Henry County (IN) REMC & Hoosier Energy Meets Challenges of New Boar’s Head Facility
The arrangement for Boar’s Head Brand’s new $80 million, 200-employee facility, which represents Henry County’s first food production plant and REMC’s largest load, was helped by the experience of Hoosier Energy, the area’s power supplier.
2015 Food Processing
Boar’s Head first contacted Henry County about a potential site in March 2014 and broke ground seven months later. According to New Castle/Henry County Economic Development Corporation President Corey Murphy, that’s the equivalent light speed for any similar deal.
Boar’s Head is initially investing $80 million in its new facility, which qualifies for a tax abatement that will provide $5.5 million in savings over the first 10 years. Boar’s Head will construct a state of the art 150,000-square-foot food processing facility and distribution plant. The facility will occupy land at an existing industrial park on the south side of New Castle. This is the first production facility Boar’s Head has constructed from the ground up.
The company will fill more than 200 permanent jobs by 2018 in processing, transportation, technology, and manufacturing — areas in which New Castle’s workforce skills skew strongly. And while New Castle already boasts technology and manufacturers, Boar’s Head will be the community’s first food production plant, a notable “score” for diversifying the area’s economy.
“The company knew exactly what it wanted,” says Shannon Thom, Chief Executive Officer of Henry County REMC. “It presented some unique challenges, since we hadn’t serviced industrial clients in the same industry. Fortunately, Hoosier Energy, our power supplier, stepped up to offer their experience from similar arrangements with other REMCs in southern Indiana. This will be, by far, our largest load. We also worked out financing on the equipment that everyone is happy with.”
“Boar’s Head looks forward to building a state-of-the-art manufacturing facility in New Castle and we would like to thank Henry County and the state of Indiana for their support in making this possible,” remarks Michael Martella, president of Boar’s Head Brand. “We look forward to the beginning of a long-term cooperative business partnership with the state of Indiana. The state offers a low-tax climate and an experienced workforce that create an ideal business environment.”
The new plant is projected to open in spring 2016
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