Fastenal Company, a distributor of industrial and construction equipment, announced plans today to expand its operations in Indianapolis, Indiana, creating up to 60 new jobs by 2016.
The Winona, Minnesota-based company will invest $13 million to construct and equip a 167,000 square-foot addition to its current 900,000 square-foot regional distribution facility at 6003 Guion Road in Indianapolis. The facility, which will be fully operational by end of year, will allow the company to expand its national corporate distribution.
“Indianapolis’s geographically central location enhances our ability to service our customers in a timely manner,” said Terry M. Hanley, Regional Operations Manager of Fastenal. “Indiana’s business friendly environment, led by Governor Pence, and Indianapolis’ commitment to business, led by Mayor Ballard, has allowed us to grow our business here. Fastenal’s goals are centered on 'growth through customer service.’ We are excited about our continued expansion in the city and state." Fastenal, which currently employs approximately 18,000 employees worldwide, including more than 950 in Indiana, plans to begin hiring for additional full-time positions this summer.
Founded in 1967 as a regional supplier of construction supplies, today Fastenal is a one-stop source for fasteners, tools, construction materials, parts and equipment. The company serves original equipment manufacturers, construction companies and maintenance and repair operations, focusing on a decentralized environment that allows each store to specialize in the equipment its customers need.
“With 80 percent of the U.S. population just a day’s drive away, it is clear why logistics operations make Indiana their home,” said Governor Mike Pence. “Our convenient location here at the Crossroads of America makes the Hoosier State the ideal site for companies large and small, from far and wide. As a leader on water, land and rail, Indiana is a state that works when it comes to helping businesses get their products where they need to go.”
The Indiana Economic Development Corporation offered Fastenal Company up to $285,000 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 city of Indianapolis approved additional incentives at the request of Develop Indy, a business unit of the Indy Chamber.
“From hiring veterans to investing in high school career programs, Fastenal is a true community partner and we welcome their expansion in Indianapolis,” said Indianapolis Mayor Greg Ballard. “Driven by the global economy, this distribution center will leverage Indy’s central location and ready workforce to continue to supply the world’s OEM, MRO and construction markets. Growing its distribution network here sends a message that Indianapolis is much more than a national logistics hub, but that we can also compete on a global scale.”