Tian Yuan Locates Plastic Resin Production Complex in Salem, Indiana
The company, which was recently established as a joint venture with Shaw Brothers Co. Inc., will invest $2.3 million to lease and equip a 27,500-square-foot manufacturing facility at 410 S. High St. in Salem.
The new facility, which will begin production this month, will complement the Shaw Brothers’ production capabilities by producing plastic resin used for the extrusion process, mixing raw plastic materials. The joint venture was formed to help meet growing demand from domestic and international customers as Shaw Brothers enters new markets. Tian Yuan has already started to hire for sorting staff, production workers, material handlers and other operation professionals.
"Tian Yuan and Shaw Brothers are very pleased to be making this investment in Salem," said Denise Hsiao, General Manager for Shaw Brothers. "We look forward to growing our business and continuing to be a strong corporate citizen. We appreciate the assistance of the state of Indiana and the city of Salem for their willingness to work with us as well as providing a very warm welcome."
Shaw Brothers, an industry broker of plastic scrap and resins, established the new company, Tian Yuan, as a joint venture and to serve as a complement to its recycling division. Founded in 1985, Shaw Brothers buys and sells plastic materials through a network of domestic and international customers.
The IEDC offered Tian Yuan up to $140,000 in conditional tax credits and up to $20,000 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 Salem will offer additional incentives at the request of the Washington County Economic Growth Partnership.
"Companies like Tian Yuan continue to find Indiana's strong business climate, skilled workforce and vibrant communities as an equation for success," said Indiana Secretary of Commerce Jim Schellinger. "We look forward to witnessing the good jobs Tian Yuan creates for Hoosiers in southern Indiana. We'll do our part by continuing to promote Indiana as a destination for business, near and far, to attract the jobs of today and tomorrow."
“The city of Salem is very pleased and appreciative of the jobs and investment that Tian Yuan brings to Salem,” said Salem Mayor Troy Merry. “We are looking forward to a long, positive working relationship. We are also appreciative of the efforts of the IEDC, our local economic development partners and the Salem City Council for their cooperative work to make this project possible. This project is one more tangible sign that our economic development efforts are paying off and Salem is continuing to grow.”
Supply Chain Bottlenecks Creating New “Logistical Hotspots”
2020 Top States for Doing Business Showcase Their Pro-Business Environments
2021 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
35th Annual Corporate Survey: Effects of Global Pandemic Reflected in Executives’ Site and Facility Plans
Latest Trends in the Industrial Real Estate Sector Here to Stay
Auto Industry Is Betting on Sustainability
2021 Auto/Aero Site Guide