PADNOS Plastics Solutions, Inc. Plans Plastics Recycling Facility In Fremont, Indiana
11/20/2013
The Holland, Michigan based company will purchase, renovate and equip a new 120,000 square-foot facility located at 803 S. Reed St. in Fremont. The expansion, which will be fully operational by early 2014, will allow the company to operate its plastics division closer to industrial and commercial customers, reducing freight expenses.
"Growing into Indiana was a natural move for our plastics business," said Jeff Padnos, President of PADNOS. "We service multiple vendors and customers in the area and we also have great partners in this region. Our plastics plant in Michigan has reached full capacity and it made a lot of sense to go somewhere far, but not too far. Indiana is known to be a great place to do business and the initial experience with the local municipality is proving that notion accurate. Everyone is making us feel incredibly welcome and that gives us confidence that we made the right decision."
Founded in 1905, PADNOS is a family-owned and operated business, managing scrap products for industrial and commercial accounts, including the automotive, furniture and medical industries. PADNOS, which currently employs more than 600 associates, plans to begin hiring equipment operators and lab technicians later this month and expects to hire operation managers, material engineers and sales executives within a year.
"In an increasingly competitive environment, Indiana is winning new jobs and investment because we've built the best possible climate for business growth," said Victor Smith, Indiana Secretary of Commerce. "Whether it's across the country or around the globe, Indiana's positive story is being heard. Companies find that our low business costs, growing infrastructure and proximity to a large base of manufacturers make Indiana a state that works."
As an incentive, the Indiana Economic Development Corporation offered PADNOS Plastics Solutions, Inc. up to $75,000 in conditional tax credits and up to $40,000 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. The town of Fremont approved additional incentives at the request of the Steuben County Economic Development Corporation.
Project Announcements
Kikkoman Foods Plans Jefferson, Wisconsin, Operations
04/26/2024
BWX Technologies Expands Cambridge, Ontario, Nuclear Production Operations
04/26/2024
Greenheck Group Plans Knoxville, Tennessee, Operations
04/26/2024
Local Bounti Plans Pasco, Washington, Indoor Agricultural Operations
04/26/2024
Innovative Construction Group Plans Siler City, North Carolina, Production Operations
04/26/2024
Crystal Window and Door Systems Plans Mansfield, Texas, Headquarters-Production Operations
04/25/2024
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
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024