Ohio Rod Products, a maker of headed and threaded fasteners, will create up to 33 new jobs in Versailles, Indiana. The company will expand its Ripley County facility with a $3.1 million investment. It already employs nearly 70 people in Versailles.
"Our traditional markets have matured, and we need to expand our manufacturing capabilities in order to realize the growth potential that exists in other fastener-related markets. Our location in southeastern Indiana continues to be beneficial to us by providing a reliable employee base, as well as proximity to our anticipated new business opportunities," said Jeff Liter, president of Ohio Rod Products.
The Indiana Economic Development Corporation has offered Ohio Rod Products up to $160,000 in performance-based tax credits, and up to $50,000 in employee training grants. The town of Versailles will consider additional property tax abatement at the request of the Ripley County Economic Development Corporation. The company will also receive a $500,000 grant from the city of Lawrenceburg's Regional Economic Development Grant program.