Novae Corporation Invests $5.9 Million To Expand Its Markle, Indiana, Manufacturing Facility
"We chose Indiana again because of the overwhelmingly compelling value we see in pro-business minded government and in the dedicated and productive workforce that is readily available," said Mike Bermes, President/Chief Business Development Officer of Novae. "Government officials at every level here realize their role in serving the people of Indiana by helping create an environment where businesses can thrive. These facts coupled with Indiana's commitment to infrastructure and our geographic proximity make it hard to beat Indiana."
Founded in 1995, Novae has three product lines including Sure-Trac utility trailers, Cardinal farm products and Novae lawn care products. With its new production facility in Markle, the company also plans to add staff at its Columbia City, North Manchester and original Markle facilities to foster its continued growth. Novae plans to begin hiring CDL drivers, welders, painters, assembly personnel, administrative and management professionals for its new Markle facility in July. The new facility will be online and fully functional by November.
"Indiana is leading the charge for job creation, with companies both at home and abroad finding the perfect business climate here for growth and opportunity," said Eric Doden, President of the Indiana Economic Development Corporation. "Companies like Novae know from experience that Indiana is a state that works, complete with the skilled manufacturing workforce and affordable cost of doing business they need to succeed."
According to IEDC, in 2010, the company made plans to invest $686,000 to purchase, redevelop and equip a 150,000 square-foot facility in Columbia City, creating up to 20 jobs by 2013. The company has since exceeded that goal, currently with approximately 350 full-time Indiana associates.
As an incentive, IEDC offered Novae Corporation up to $450,000 in conditional tax credits and up to $50,000 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. In addition, Huntington County approved additional incentives and the town of Markle is considering incentives at the request of the Huntington County United Economic Development Corporation.
"The town of Markle is very excited about continued growth at the Markle Industrial Park," said Jeff Humbarger, President of the Markle Town Board. "Success in the economic development world is defined by collaboration. We really appreciate the support we've received from the IEDC, the Northeast Indiana Regional Partnership, Huntington County Economic Development and the county."
Investor Cash Management Plans Wilmington, Delaware, Headquarters-Customer Service Center
The “Great Resignation” Is Impacting Corporate Relocations
Workforce Q4 2021
Innovation Corridors Have Economic Assets Driving Business Growth
The 2021 Top States for Doing Business Reflect Their Locational Advantages
Workforce Development Programs Are in Overdrive
Workforce Q4 2021
35th Annual Corporate Survey: Effects of Global Pandemic Reflected in Executives’ Site and Facility Plans
17th Annual Consultants Survey: Consultants Are Optimistic About the Year Ahead