Summit Seed Coatings Invests $2.39 Million In Salem, Indiana, Production Facility
The Caldwell, Idaho-based company will invest $2.39 million to lease, renovate and equip a 60,000 square-foot facility at 401 South High Street in Salem. The facility, which will be operational by January, will aid in distribution to the company’s Midwest customers, as well as help meet the company’s strong demand, which has increased by 30 percent annually over the past four years.
“We included three Midwestern states in our search,” said Stuart Barclay, manager at Summit Seed Coatings. “While there were similar benefits offered by all of the states, we were attracted by the cultural atmosphere of Salem, which is similar to Caldwell. Moreover, the help and encouragement by the state of Indiana, the city of Salem and the people we met was a big influence in our selection.”
Founded in 2002, Summit Seed Coatings produces seed coatings for major seed distributors, which sell their seeds to agriculture dealers and government dealers, as well as at Lowe’s, The Home Depot, Walmart and other garden store chains. The company’s coatings convert more seeds to plants and produce more vigorous seedlings than uncoated seeds. Summit Seed Coatings currently coats small seeded legumes, alfalfa, clover, cover crops, radishes, forage grasses and retail grasses for homeowners.
As an incentive, Indiana Economic Development Corporation offered Summit Seed Coatings Indiana up to $100,000 in conditional tax credits and up to $17,500 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Indiana residents are hired, the company is not eligible to claim incentives. The city of Salem will consider additional incentives.
“The seeds we have planted for a strong business climate are blossoming in Indiana,” said Eric Doden, President of the Indiana Economic Development Corporation. “Companies around the nation like Summit Seed Coatings are selecting the Hoosier State for their agricultural business. In Indiana, they find the right conditions for growth, including a low-cost environment and convenient location close to their customers.”
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