S&J Precision Invests $3.6 Million To Expand New Albany, Indiana, Production Plant
The homegrown-Hoosier company will invest $3.6 million to construct and equip a new 48,000 square-foot facility in New Albany. The facility, which will be fully operational by August 2015, will allow the company to expand its current machining, injection molding and engineering and design operations, as well as explore other business opportunities from existing and new customers. With its continued growth, its newest facility will allow for an expansion of up to 100,000 square feet in the future.
“We decided to stay in southern Indiana because of the support from One Southern Indiana, the city of New Albany and the state of Indiana,” said Sheila Wallace, President of S&J Precision. “We felt like they all considered us as a valuable asset to the community and truly wanted us to be here. We have built the company with the strong work ethic of the people in this area and we feel like a part of the community.”
As an incentive, Indiana Economic Development Corporation offered S&J Precision, Inc. up to $100,000 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. Floyd County will consider additional incentives at the request of One Southern Indiana.
“Precision and execution is what separates the best from the rest,” said Eric Doden, president of the Indiana Economic Development Corporation. “Indiana has created an environment for businesses to thrive with a strong infrastructure, business-friendly taxes and a workforce ready to tackle any challenge. S&J Precision grew out of the bold execution of two entrepreneurs, the support of the local community and the skill of the Hoosier workforce. That’s what’s possible in a state that works.” S&J Precision, which currently employs 34 full-time Indiana associates, plans to begin hiring CNC programmers, machine builders and engineers immediately.
Why are Foreign Trade Zones Making a Comeback?
The New Normal in the Automotive Supply Chain
2020 Auto/Aero Site Guide
34th Annual Corporate Survey & the 16th Annual Consultants Survey
Infrastructure Investment as an Economic Stimulus Tool
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row
Nondisclosure Agreements Best Practices When Negotiating Incentives