Japan-Based Mitsubishi Chemical Subsidiaries Plan Expansion In Jeffersonville, Indiana
The companies plan to jointly invest $7.6 million to expand and equip their 245,000 square-foot manufacturing operations in Jeffersonville by expanding their warehouse and rail storage facilities and installing new equipment beginning in March to improve competitiveness.
“We have experienced significant growth in automotive related sales during the last several years and look to capture continued growth in this segment,” said Masayuki Arai, President of Mytex Polymers. “A key pillar in our parent company’s strategy is capacity expansion in North America, and Jeffersonville remains an attractive location, as it is centrally located amongst many of our automotive customers.”
Chemtrusion and Mytex Polymers have worked together at the Jeffersonville location since it was founded in 1996. The companies develop, test and manufacture polymer solutions that are used in products including automotive parts, household appliances, recreational vehicles, industrial equipment and specialty packaging. With this growth, the companies anticipate increasing production capacity by 25 percent to allow Mytex to capture growing demand from its automotive customers. Chemtrusion and Mytex Polymers currently employ a combined 170 full-time associates, including more than 100 in Indiana.
“Look across Indiana and you’ll notice quite a few companies with Japanese connections like Chemtrusion growing here,” said Victor Smith, Indiana Secretary of Commerce. “Their manufacturing operations are successful because pride and excellence in work quality are values shared in Japan and Indiana. We’re growing our economies together, with Hoosiers benefiting from new jobs from companies like Chemtrusion.”
“We are excited about the proposed expansion project and very pleased that Mytex Polymers continues to place its confidence in Chemtrusion,” said Scott Owens, President of Chemtrusion. “As we approach our twentieth year of operations in Jeffersonville, the Jeffersonville compounding facility continues to be an example of our dedication to deliver safe, reliable and efficient services to our customers.”
As an incentive, Indiana Economic Development Corporation offered Chemtrusion, Inc. up to $80,000 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 Jeffersonville will consider additional incentives at the request of One Southern Indiana.
What’s Driving Record Industrial Real Estate Demand
2020 Top States for Doing Business Showcase Their Pro-Business Environments
17th Annual Consultants Survey: Consultants Are Optimistic About the Year Ahead
2020 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Regional Report: Southeast Ports Expand Capacity
Trends in Office and Industrial Parks