Haynes International Invests $23.5 Million On Expansion of Kokomo, Indiana Manufacturing Plant
06/26/2012
The producer of high-performance nickel and cobalt-based alloys will expand the flat product capacity at its manufacturing facility, located at 1020 West Park Avenue, which currently has 780 full-time employees. The firm plans to begin purchasing new machinery and equipment this August.
"The growth of Haynes reaffirms the healthy stability of the Hoosier State's manufacturing industry," said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Our manufacturing prowess combined with our skilled workforce makes Indiana standout as a leader in production innovation."
During World War II, Haynes supplied 70 percent of all turbine blades used in fighter and bomber aircraft engine superchargers. The century-old company, which also produced parts for the Mercury Space Capsule in the 1960s, operates seven facilities in North America, and eight facilities throughout Europe and Asia.
"This year marks our 100th anniversary in Kokomo and Indiana. It is a milestone that few companies reach," said Mark Comerford, president and chief executive officer of Haynes. "With this investment, we will strengthen our footprint in Indiana and improve our ability to service our customers around the world. That's good news for our employees and our customers."
As an incentive, the Indiana Economic Development Corporation offered Haynes International, Inc. up to $550,000 in conditional tax credits and up to $100,000 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. The city of Kokomo will consider additional property tax abatement.
"Haynes has been a leader in their industry for 100 years in Kokomo," said Jeb Conrad, president and chief executive officer of the Greater Kokomo Economic Development Alliance. "We are excited about their continued commitment to grow and invest in our community."
Project Announcements
AESC Expands Florence, South Carolina, Operations
03/28/2024
Alticor Expands Ada Township, Michigan, Operations
03/27/2024
Eastman Plans Longview, Texas, Production Operations
03/27/2024
DHL Supply Chain-Vantage Data Centers NV11 Plan Nevada Operations
03/26/2024
Big Jet Expands Pittsburgh, Pennsylvania, Operations
03/26/2024
Landmark Ceramics UST Expands Mt. Pleasant, Tennessee, Operations
03/25/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The Logistics Analysis That Drives Industrial Site Selection
Q4 2023
-
Manufacturing Momentum Is Building
Q1 2024
-
Technology’s Influence on Workforce Development
Workforce Q4 2023
-
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
Q1 2023
-
Industry in the Era of the Electron
Q1 2024