Micronutrients, an agribusiness that produces animal feed additives, will expand its operations in New Castle, Indiana. The facility will create up to 50 new jobs by 2020 in Henry County.

The company, which was acquired last year by Netherlands-based Nutreco, will invest approximately $30 million to construct a new 164,000-square-foot manufacturing plant and warehouse at 385 E. County Road 400 S. in New Castle, 48 miles northeast of Indianapolis.

The new facility, which will house mixing tanks, spray dryers and packaging equipment, will allow Micronutrients to increase its production of hydroxy trace minerals. These minerals improve the stability of premix and feed, as well as bioavailability in animals to better facilitate digestion and increased animal performance. Sold under the IntelliBond brand, the company's minerals are used in every U.S. state and around the world.

Micronutrients, which was established in Indianapolis in 1994, plans to break ground in Henry County in late 2017, allowing the company to continue its current growth and increase its market share globally. The company employs more than 150 full-time associates across its main office and manufacturing plant in Indianapolis and plans to begin hiring in late 2018 prior to launching operations in New Castle by early-to-mid 2019.

"Indiana was originally chosen in 1994 as it was the home base for the overall corporation," said Ted Moore, Vice President of Operations at Micronutrients. "Continued expansion in Indiana, specifically New Castle, is for an entirely different reason. While there is something to be said for having current operations nearby, the primary reasons for the New Castle location decision were the cooperative nature of the state and local governments and, most importantly, the quality workforce that is available in Indiana."

"Indiana has a strong tradition in agriculture, and the industry continues to grow today as companies like Micronutrients are utilizing new techniques and technology to provide innovative solutions to farmers and consumers across the globe," said Lt. Governor Suzanne Crouch, who also serves as Indiana Secretary of Agriculture and Rural Development.

"Agriculture and agribusiness are vital contributors to the state's economy, providing $31 billion annually toward the state's GDP. We are excited to see companies like Micronutrients choosing to grow here in Indiana, and I am confident that our hardworking Hoosier workforce will help propel their future success," she added.

As an incentive, Indiana Economic Development Corporation (IEDC) offered Micronutrients USA up to $500,000 in conditional tax credits 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 IEDC will also provide the community with up to $200,000 in infrastructure assistance from the state's Industrial Development Grant Fund. Henry County approved additional incentives at the request of the New Castle-Henry County Economic Development Corporation.