Two companies are planning to invest nearly $20 million into their Seymour operations this year creating economic growth and job opportunities for the area.
Seymour City Council recently approved tax abatement requests from Cummins and Excel Manufacturing.
Speaking on behalf of Cummins, Jim Plump, executive director of Jackson County Industrial Development Corporation, said the company was seeking three tax abatements – two for personal property and one for real estate.
“Last year, Cummins announced they were looking at a multi-year investment and this is year two of that,” Plump said.
The investment for all three abatements for the engine-maker totals $17.74 million. Cummins currently employs 950 workers at its Seymour plant and is the third largest industrial employer in the county.
Excel Manufacturing will spend $1.5 million to purchase new manufacturing equipment and for related expenses. Brent Kilgas, president of Excel, said the investment is being made in order to complete projects and fill orders for their customers.
The company, located in the East Side Industrial Park in Seymour, offers production machining, engineering, fixture design and building and assembly services.
“Our plan is to purchase CNC machines, industrial robots and supporting equipment to manufacture these items for our customers,” Kilgas said.
By updating to more current technology and equipment, Kilgas said Excel has the ability to remain competitive in the global marketplace.
As a result of the investment, Excel will add three new employees and retain its current workforce of 86 while generating an estimated $3.75 million in annual salaries.