Mary Winburn | Jackson County Industrial Development Corporation

2019 OFF TO GOOD START

Dec 31, 2018 | Jackson County News & Info

2019 is off to a fast start while 2018 ended up being one of the strongest years for industrial “promised investment” in Jackson County, Indiana.

Over $52 million in new promised investment for 2019 was announced during the 4th quarter of 2018 involving 5 projects, which followed on the heels of a very successful 2018 when 10 projects announced promised investment of $84.14 million.

Valeo North America and Lannett announced expansion plans totaling $50.47 million, which Indiana Polymer LLC said it would invest $650,000 during the November 26th Seymour City Council meeting. That followed an announcement by Spaceguard in earlier November that they plan a $2 million expansion.

Indiana Polymer is a new company that plans to invest $500,000 in new equipment, while JSF Investment LLC (the holding company for Indiana Polymer) will invest $150,000 in renovations at 916 and 926 F Avenue in Freeman Field, where the company will establish their operation. The parent company, Ameridge Industries Inc., has been in the plastic recycling business for the last 11 years in North Carolina. 10 new jobs are projected, and the Indiana Economic Development Corporation (IEDC) granted up to $140,000 in EDGE tax credits.

Lighting manufacturer Valeo North America announced plans for a $39.87 million investment in equipment at the company’s Freeman Field location that is expected to add 255 workers earning $163 million by end of 2019.

Kremers Urban, a wholly-owned subsidiary of Lannett Company Inc., announced its plan to invest $10.45 million in new equipment and $100,000 in logistics distribution equipment as part of its expansion at Freeman Field. The project is expected to add 30 jobs and $1.1 million in wages.

Spaceguard plans to add a 25,600 square foot addition to their facility and purchase additional equipment with a total project cost of $2 million. The expansion is expected to add 8 new workers to their current workforce of 39. The IEDC offered a $125,000 EDGE tax credit incentive to the company.

All companies applied for, and were granted, tax abatement on their investments.

Seymour Moving Forward on Opportunity Zone

Dec 31, 2018 | Jackson County News & Info

In partnership with the City of Seymour and the Seymour Redevelopment Commission, Jackson County Industrial Development Corporation is assisting in the planning and marketing of an area in the southeastern section of Seymour which has been names an “Opportunity Zone” by the U.S. Treasury Department. This designation can provide tax incentives for investors in that area.

A Phase I study of the census tract was completed and a community meeting was held in late November to report the results of the study. A follow-up meeting was held and it was determined that the Redevelopment Commission would be asked to fund a Phase II study.

The federal “Opportunity Zone” program was created in the 2017 Tax Cuts and Jobs Act and provides federal capital gains tax incentives to attract private sector investment.

Seymour Mayor Craig Luedeman said the area that qualified for zone status will soon see the southern extension of Burkart Boulevard built through it, thus creating possible investment opportunities for industry, commercial and housing projects.

Indiana Governor Eric J. Holcomb had submitted 156 areas for Opportunity Zone status which were all approved by the U.S. Treasury Department in May. The 156 zones in Indiana are located in 58 counties covering all or portions of 83 cities and towns.

FosTech Business Booming

Jul 19, 2018 | Jackson County News & Info

Local firearms manufacturer moving into city limits

Local firearms manufacturer, FosTech Inc. will move into Seymour city limits this year, taking over the former Bender Lumber building at 320 Myers Lane in order to expand.

Owned by brothers Judd, Paul and Mark Foster, the company makes Origin-12 shotguns, ultralight AR-15 rifles and a line of firearm accessories.

With continued demand in the firearms market, the business has experienced much success and growth.

Founded in a garage in Seymour in 2010, FosTech has grown into a multi-million dollar company employing 13 full-time and more then 15 part-time workers.

The company tends to hire police officers, firemen and emergency technicians as part-time workers, President Judd Foster said.

The relocation will allow the business to add 4 more full-time positions.
FosTech attended Seymour’s City Council meeting to request tax abatement on a total investment of $1,075.000. Council approved two 10 year abatements; the first for $500,000 in real estate improvements, and the second for $575,000 in new equipment.

City Council also approved a transfer of a previous abatement that had been granted by the Jackson County Council in 2017 for a $360,000 investment in equipment.

The company’s mission requires them to stay on the cutting edge of technology, and they currently own multiple patents and have patents pending on a variety of products.

PLUMP AWARDED LIFETIME ACHIEVEMENT AWARD

Jul 2, 2018 | Jackson County News & Info

Jim Plump, executive director of Jackson County Industrial Development Corporation, was awarded the Lifetime Achievement in Economic Development award during the 50^th anniversary celebration of the Indiana Economic Development Association on June 22^nd in Indianapolis.

“It was a very nice honor … very humbling,” said Plump, who has served as director of JCIDC since the organization’s inception in 1984. “Over the years, I have been blessed to work for outstanding boards of directors and with great elected officials, plus market a terrific area of the State of Indiana … Jackson County. That’s a great combination for success.”

The award was one of three special honors presented during the event at the Indiana Roof Ballroom. Former Indiana Governor Mitch Daniels and now President of Purdue University received the “Big Impact in Economic Development” award and Wendy Dant Chesser, President and CEO of One Southern Indiana in New Albany, was named “Economic Development Professional of the Next Half-Century”.

Plump’s award was presented by Seymour native Dan Brackemyre, who was a founding member of the organization when it was created as the Indiana Area Development Council. “That made the award even more special,” said Plump.

JCIDC is recognized as one of the top economic development organizations in the Midwest for work in attraction and retention of industries, and the creation of innovative programs to assist the business community, such as the Workforce Partnership.

After its formation in 1968, the statewide organization changed its name to the IEDA in 1992 and has grown to over 400 members. Plump served as the group’s president in 1999, and helped create the IEDA Foundation for educational purposes.