Wire-Cable Manufacturer, Southwire Company, Invests $2.1 Million To Expand Its Bremen, Indiana, Manufacturing Plant
The Georgia-based company, which purchased Illinois-based Coleman Cable in February, will invest $2.1 million to purchase and equip a new 48,000 square-foot facility in Bremen. The facility, which will be fully staffed by the end of 2015, will allow the company to relocate manufacturing capacity for its original equipment manufacturer and industrial divisions to Bremen.
“Southwire’s acquisition of Coleman Cable, including the Bremen operations, provided a key step in our strategy to grow into new, diverse markets,” said Stu Thorn, President/CEO of Southwire. “We now are working together to position ourselves at the forefront of the wire and cable industry, while continuing to provide world-class service to our customers. With its central local and the availability of resources and skilled labor, Bremen provides a perfect focal point for that growth.”
Founded in 1950, Southwire is North America’s largest and the world’s third largest producer of wire and cable used in the transmission and distribution of electricity. The company, which currently employs 310 full-time Indiana associates, is now hiring for additional production, maintenance and distribution positions.
The Indiana Economic Development Corporation offered Coleman Cable, LLC up to $750,000 in conditional tax credits and up to $200,000 in training grants 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. Marshall County approved additional incentives at the request of the Economic Development Corporation of Marshall County.
"Indiana’s focus on job creation, cutting red tape and improving our infrastructure continues to pay dividends, but our state’s greatest strength is still its deep and talented workforce," said Governor Mike Pence. "Companies like Southwire recognize the tremendous potential for growth here in Indiana, where our skilled Hoosiers, a stable business climate and low taxes prove once again Indiana is a state that works.”
"We're excited that the Southwire Company has decided to expand their presence in Bremen, again,” said Jim Leeper, President of the Bremen Town Council. “Southwire is a valued employer in the community and I’m glad that the town will partner with the state of Indiana to support Southwire’s commitment to grow the Bremen operations and create more good jobs for area residents.”
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