Metal Powder Products Expands Operation in Noblesville, Indiana
03/21/2019
The Noblesville-based company, which is a portfolio company of Mill Point Capital, will invest $1.5 million to equip and repurpose its 60,000-square-foot facility at 14670 Cumberland Road to significantly increase its production capacity in Indiana and accommodate the new division, metal injection molding (MIM) manufacturing.
With the investment, MPP will dedicate more space, 40,000 square feet, to manufacturing while the remaining 20,000 square feet will be equipped to serve as office space and to support R&D capabilities. Limited production of the company’s MIM manufacturing is currently underway and will be fully operational this spring. The company has already hired 51 new employees since planning its job growth last year.
"Indiana has a strong reputation for making products that power our world, and we're also developing new solutions and advancing innovative technologies that are driving industries forward," said Elaine Bedel, president of the Indiana Economic Development Corporation (IEDC). "With a fiscally-sound, pro-growth business climate and talented workforce, global businesses like MPP have the confidence to expand their capabilities here and create new, skilled jobs for Hoosiers."
“We are very excited with regard to the move to Noblesville, and the state of Indiana and city of Noblesville have been exceptionally helpful during this process," said Dennis McKeen, CEO of MPP. "MPP sees a very bright future for our MIM operations with very rapid growth."
“As we welcome MPP’s expansion in the Noblesville Corporate Campus, the city is excited to support the company’s plans for growth, bringing with it more jobs and greater innovation that will complement our local economy,” said Noblesville Mayor John Ditslear.
In 2018, the IEDC offered MPP up to $500,000 in conditional tax credits and up to $100,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning that until Hoosiers are hired, the company is not eligible to claim incentives. The City of Noblesville is offering permit assistance in support of the project, and Duke Energy approved additional incentives to offset a portion of the energy costs.
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