Precision Plastics, Inc., a custom plastic injection molder, plans to expand its Columbia City, Indiana, operations center, creating up to 15 new jobs by 2017.
The company will invest $265,000 to construct a 12,000 square-foot warehouse adjacent to its current 75,000 square-foot plastics facility, which is expected to be complete by June. Precision Plastics will move product storage into its new warehouse, allowing the company to add additional injection molding presses to its manufacturing floor.
“Indiana provides an ideal business climate,” said Ron Richey, President/CEO of Precision Plastics. “We are very excited to continue our expansion in the state of Indiana. Our analysis shows that Indiana has a cost advantage over surrounding Midwestern states in our industry. As a right-to-work state, our community provides a world-class workforce that is educated and motivated. Also, most of our global customers like our central location and our easy access to international markets.”
Founded in 1955, Precision Plastics produces high quality durable injection molded product, primarily serving the automotive, defense and industrial markets. The company operates 28 injection molding presses, growing rapidly from its early days with just two injection presses and two employees. With its growth, the employee-owned company plans to establish a production area where it can manufacture plastics at a food grade level. Precision Plastics, which currently employs approximately 120 full-time Indiana associates, plans to begin hiring for manufacturing positions in August.
“Indiana’s economy is molded by homegrown companies like Precision Plastics,” said Eric Doden, President of the Indiana Economic Development Corporation. “Through their dedication to growth, they are helping to put more Hoosiers to work. Indiana provides an ideal and affordable business climate where companies are free to pursue their goals in a state that works.
As an incentive, The Indiana Economic Development Corporation offered Precision Plastics, Inc. up to $65,000 in training grants based on the company's job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. In addition, the city of Columbia City will consider additional tax abatement at the request of the Whitley County EDC.
“On behalf of Columbia City, we are pleased to support Precision Plastics expanding the company's capabilities to include food grade production," said Columbia City Mayor Ryan Daniel. "This project demonstrates that our partnership efforts encouraging local expansions and business attractions continue to bring economic success stories to our community.”