Brazil-Based Fitesa Expands-Upgrades Terre Haute, Indiana, Operations Center
The company acquired Terre Haute-based Tredegar Corporation’s personal care films business in November 2020, retaining 113 employees. Now, Fitesa is investing more than $19.2 million to add new equipment, upgrade existing production lines and improve the former Tredegar Corporation site at 3400 Fort Harrison Road, enabling the company to increase its Indiana client base and expand its service offerings for the healthcare market. Renovations are expected to be complete later this year.
“Fitesa’s growth in the health care market amidst a global pandemic reinforces our commitment to the communities in which we operate, customers we serve and society as a whole," said Silverio Baranzano, Fitesa CEO. "We are pleased to be expanding the Indiana facility and preparing it for continued success now and in the future. Fitesa is a strategic player that focuses on investments with a view to hold them for the long term."
As an incentive, Indiana Economic Development Corporation (IEDC) offered Fitesa up to $300,000 in conditional tax credits and up to $40,000 in conditional training grants based on the company's job creation plans. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are trained and hired. The city of Terre Haute and Duke Energy offered additional incentives.
"For companies looking to make advancements in the manufacturing sector, Indiana offers a supportive business environment with benefits for employees and businesses," said Interim Indiana Secretary of Commerce Jim Staton. "The advanced manufacturing industry employs 1 in 5 Hoosiers, offering quality careers and providing career growth potential. We are proud to have Fitesa on our list of growing Indiana manufacturers and look forward to supporting them for years to come."
Fitesa employs more than 2,000 people in 16 manufacturing locations across Brazil, Peru, Mexico, Italy, Sweden, Germany, the U.S., United Arab Emirates, Thailand and China, with U.S. operations in Indiana, North Carolina, South Carolina, Washington and Wisconsin. The company plans to hire in Terre Haute for machine operators, engineers and maintenance technicians beginning late summer.
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