SGS Specialty Group Expands Its Columbia City, Indiana, Production Facility
The company, previously known as Oak View Tool Company, will invest $773,767 to equip its 9,500 square-foot facility at 724 Swihart Street in Columbia City. As a subsidiary of Munroe Falls, Ohio-based SGS Tool Company, the company anticipates expanding its distribution channel to include opportunities throughout the United States, Canada, Europe, Mexico and China, doubling its business within the next five years.
“This division of our company was founded and nurtured in Indiana and this is our home,” said David Eizelman, President of SGS Specialty Group. “With an outstanding workforce, a thriving community and some of the finest education institutions – this is where we and our people will grow and prosper. With the determination of its people and an excellent business environment, Indiana is truly a state that works.”
“Manufacturers like SGS Specialty Group provide a key gear in our Hoosier economy,” said Eric Doden, President of the Indiana Economic Development. “We’ve built a business climate designed for manufacturing success, from taxes that are limited to a workforce that is strong. Their success creates new jobs, but it also sparks economic growth for its customers and its community.” SGS Specialty Group, which currently employs 27 full-time Indiana associates, has already begun hiring skilled manufacturing associates with experience operating CNC grinders, lathes and mills.
As an incentive, Indiana Economic Development Corporation offered Oak View Tool Company, LLC up to $175,000 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 Columbia City approved additional incentives at the request of the Whitley County Economic Development Corporation.
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