updated: 5/10/2012 7:38:11 AM

Evansville Company Expanding

InsideINdianaBusiness.com Report

Evansville-based SealCorpUSA Inc. has announced plans to build a second facility in the Vanderburgh County city and add up to 35 jobs by 2015. The sealant and adhesive manufacturer intends to invest $2.6 million to lease and equip the new plant.

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May 9, 2012

News Release

Evansville, Ind. -- SealCorpUSA, Inc., a developer and manufacturer of sealants and adhesives, announced plans today to expand its operations here, creating up to 35 new jobs by 2015.

The company, which develops compounds of butyl, neoprene and other specialty elastomers, will invest $2.6 million to lease and equip its second Evansville facility. SealCorpUSA will purchase additional mixers, fork trucks and computers for the 100,000 square-foot facility at 1179 Diamond Ave. The new plant is slated to be fully operational in July.

"SealCorpUSA's continued investment and expansion in our state exemplifies the confidence companies have in Indiana's current and future business climate," said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Through our low-tax, pro-growth policies, Indiana provides research and development companies a sustainable platform for long-term success."

Established in 1991, SealCorpUSA supplies customers in the roofing, automotive, construction, electrical and telecommunication industries. The company, which currently employs 47 full-time associates in Indiana, plans to begin hiring additional maintenance, management, information technology and production associates in the coming months.

"SealCorpUSA has had consistent growth for more than 20 years due to our goals to provide the best products, service and product development expertise in our industry," said Ken Rust, president of SealCorpUSA. "The cumulative effort of the state and local organizations has provided the tools and support to make Indiana the logical choice."

The Indiana Economic Development Corporation offered SealCorpUSA, Inc. up to $275,000 in conditional tax credits and up to $60,000 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 Evansville will consider additional property tax abatement.

"The city is pleased that SealCorpUSA has chosen to expand in Evansville," said Evansville Mayor Lloyd Winnecke. "The commitment to job creation and the retention of employer companies in our community is a top priority of our administration."

SealCorpUSA's expansion in Evansville comes just hours after Wilson Industrial Sales, a wholesale marketing and distribution company of inorganic chemicals, announced plans to grow its northwest Indiana headquarters. The company will invest $2.2 million to build a new facility in Rensselaer, adding up to 15 high-wage jobs by 2015.
About SealCorpUSA

SealCorpUSA is a manufacturing and development research and development company dedicated to designing compounds to resolve problems in our customers production or applications during the manufacturing or use of their product. We private label products for the roofing, construction, plumbing, utility and mining industries. SealCorpUSA was founded in 1991 by Paul and Barbara Rust.

About IEDC

Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.

Source: Indiana Economic Development Corporation

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