Phillips Tube Group Invests $8.2 Million to Relocate in Richmond, Indiana
07/30/2020
"On behalf of Phillips Tube Group, let me first say thank you to the state of Indiana, the EDC of Wayne County and the city of Richmond who have done a fantastic job of creating an environment of success for our new plant," Angela Phillips, CEO and owner of the company.
Indiana Economic Development Corporation offered up to $325,000 in conditional tax credits as an incentive based on the company's hiring.
In addition, the company will receive a $98,500 Economic Development Income Tax grant to offset building restoration and equipment costs. Richmond Common Council's tax abatement committee is also considering providing the company with a total of $6.8 million in 10-year tax abatements, a vote for which will be considered in August.
"Our investment in this facility represents the most technologically advanced machinery and processing equipment in the industry," EDC President Valerie Shaffer said in a statement. "The company's plans to make the Richmond facility a high technology center demonstrates their confidence in this location."
Project Announcements
AESC Expands Florence, South Carolina, Operations
03/28/2024
Alticor Expands Ada Township, Michigan, Operations
03/27/2024
Eastman Plans Longview, Texas, Production Operations
03/27/2024
DHL Supply Chain-Vantage Data Centers NV11 Plan Nevada Operations
03/26/2024
Big Jet Expands Pittsburgh, Pennsylvania, Operations
03/26/2024
Landmark Ceramics UST Expands Mt. Pleasant, Tennessee, Operations
03/25/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The Logistics Analysis That Drives Industrial Site Selection
Q4 2023
-
Manufacturing Momentum Is Building
Q1 2024
-
Technology’s Influence on Workforce Development
Workforce Q4 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
Q1 2023