MonoSol Expands Lebanon, Indiana, Manufacturing Plant
A division of Japan-based Kuraray, MonoSol will invest $72 million to construct a 150,000-square-foot manufacturing facility at 155 S. Mount Zion Road in Lebanon.
According to state officials, the new facility will increase MonoSol's production by 18 percent, allowing the company to meet growing demand for its innovative packaging solutions while increasing operational efficiency and material flow.
It will be the company's fifth Indiana-based operations center, supplementing its headquarters in Merrillville and its manufacturing sites in LaPorte, Portage and Duneland. Construction is expected to begin in the second quarter of 2018 and be completed in early 2020.
“MonoSol was founded in Portage in 1953, and northwest Indiana has served as an outstanding location to build and grow a global business,” said P. Scott Bening, President & CEO for MonoSol. “Building this new facility in central Indiana further strengthens our business continuity plan through geographic diversity and enhances our proximity to key global customers. We look forward to opening our fifth operations facility in the state and continuing our strong legacy of community involvement.”
MonoSol currently employs 500 full-time employees in Indiana. The company expects to begin hiring for production, warehouse, clerical, technical and manager positions in mid-to-late 2019 and plans to be fully operational in mid-to-late 2020.
As an incentive, the Indiana Economic Development Corporation offered MonoSol LLC up to $1,200,000 in conditional tax credits 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. The city of Lebanon approved additional incentives at the request of the Boone County Economic Development Corporation.
"Here in Indiana, we've earned an international reputation as one of the best places to do business, offering global companies like Monosol a pro-growth climate and a skilled workforce," Gov. Eric J. Holcomb said. "As a state, we’ll remain focused on strengthening our economy to attract new investments, promote growth and make Indiana a jobs magnet.”
“We are pleased that MonoSol has chosen to locate their first central Indiana facility in Lebanon,” said Lebanon Mayor Matt Gentry. “MonoSol was recently recognized amongst the nation’s best and brightest companies to work for, and I am confident that the business-friendly environment in the Lebanon Business Park will foster their continued success.”
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