Indiana Packers Corporation, a pork products producer, will locate its second Indiana operations facility in the city of Frankfort, with plans to create up to 98 new jobs by 2016.
The company, a subsidiary of Japan-based Mitsubishi Corporation, will invest $2.28 million to purchase, renovate and equip a 56,500 square-foot facility on a 5.9 acre campus located at 1150 Vermont Street. The new facility, which will be operational in August, will allow the company to conduct fresh pork shipping and warehouse receiving operations.
“We are excited about the opportunities here in the Frankfort community,” said Russ Yearwood, President of Indiana Packers. “The location and strong workforce complements our economic growth plan. Selecting Frankfort for our facility was made possible due to the partnership between Indiana Packers, the state of Indiana, Clinton County and Frankfort officials. We look forward to a great partnership for many years to come.”
Founded in 1991, Indiana Packers produces 3.5 million pounds of fresh pork daily. Offering smoked meat product lines under the INDIANA KITCHEN brand, the company works closely with local livestock farmers and their feed suppliers to provide local meat choices. Indiana Packers serves retail and foodservice customers across the country and exports products to 31 foreign countries. The company, which currently employs 2,000 full-time Indiana team members, plans to begin hiring production packaging, warehouse and logistics positions this summer.
“Indiana’s agriculture industry continues to be a foundational part of Indiana’s economy. Products from Indiana farms and food processors can be found on tables across America and beyond,” said Lt. Governor Sue Ellspermann. “Our business-friendly tax and regulatory policies encourage and support business growth and expansion throughout Indiana and has helped us experience record job creation. We congratulate Indiana Packers on the success that has led to this expansion project.”
As an incentive, Indiana Economic Development Corporation offered Indiana Packers Corporation up to $400,000 in conditional tax credits and up to $139,500 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Frankfort will consider additional property tax abatement.
“We always are pleased when a company is interested in locating – as Indiana Packers will do – into an existing structure because it means a formerly vacant property can be revitalized," said Mayor Chris McBarnes. "The fact Indiana Packers officials are willing to redevelop and inhabit the existing structure at 1150 Vermont Street is an important and appreciated step in our city’s enhanced economic development landscape. The creation of Frankfort’s Economic Development Plan played a key role in positioning Frankfort to attract such a strong food manufacturing leader."