Three Central Indiana Company Plan Expansion With State Incentives
“Companies launched in Indiana have a knack for growing in Indiana—and growing quickly,” said Eric Doden, President of the Indiana Economic Development Corporation. “That’s because whether your business is in logistics or laboratory research, Hoosiers have the drive to build something strong. Companies like Langham Logistics, SAW Capital and Triclinic Labs are proving today just what’s possible here in Indiana.”
On Indianapolis’ northwest side, Langham Logistics will invest $933,000 to renovate its 306,000 square-foot warehouse and corporate headquarters facility. Installing racking storage to accommodate the facility’s narrow isle configuration, the renovations will help the company leverage its current facility to meet growing demand for Langham Logistics’ global distribution services, which experienced a 27 percent rate of growth in 2014.
Serving Fortune 500 companies in the industrial, life science and retail industries, the certified woman-owned business enterprise operates additional distribution locations in Evansville, Los Angeles and at the Indianapolis International Airport. Langham Logistics, which currently employs more than 80 Hoosiers, plans to create up to 20 new jobs by 2018 and has already begun hiring for international shipping, warehouse and administrative positions.
In Indianapolis’ Stout Field Industrial Park, SAW Capital LLC, a business solutions company, will renovate and equip its 260,000 square-foot warehouse, which is home to SAW Capital’s headquarters and its portfolio companies, including Grocers Supply Company, GS Transportation and Dugdale LLC. Installing new processing equipment, which is expected to be in production by June, the expansion will allow the company to meet demand from independent grocery stores, food service and online customers.
SAW Capital portfolio companies have grown revenue by 65 percent in the last year and project 25 percent revenue growth in 2015. Recent acquisitions include Dugdale Beef, a wholesaler of beef, pork, poultry and seafood, CasperSMS, a text and email solutions provider for retail and medical clients, Heartland Markets and R&M Wholesale retail grocery stores. SAW Capital plans to create up to 29 new jobs by 2019 and has already begun hiring for information technology, customer service and skilled processing positions.
In Lafayette, Pharmaceutical and fine chemical development company Triclinic Labs, Inc. is investing $6.13 million into a new 12,000 square-foot, custom-designed research and development facility. The new facility, which opened in February, is more than double the size of the company’s previous laboratory and office space in Tippecanoe County. Experiencing exceptional demand for its pharmaceutical analysis and development services, Triclinic Labs has already begun hiring for business development, analytical chemistry and organic chemistry positions. Currently employing a team of more than 18 Hoosiers, Triclinic Labs plans to create up to 10 new jobs by 2016 and is seeking applicants with a range of educational backgrounds and experiences.
The Indiana Economic Development Corporation offered Langham Logistics, Inc. up to $89,000 in conditional tax credits and up to $40,000 in training grants based on the company’s job creation plans. SAW Capital LLC was offered up to $160,000 in conditional tax credits and up to $80,000 in training grants based on the company’s job creation plans. Triclinic Labs, Inc. was offered up to $100,000 in conditional tax credits and up to $45,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the companies are not eligible to claim incentives.
The city of Indianapolis supports Langham Logistics’ and SAW Capital’s projects at the request of Develop Indy, a business unit of the Indy Chamber. Tippecanoe County approved additional incentives for Triclinic Labs at the request of Greater Lafayette Commerce.
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