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.