updated: 10/9/2013 6:19:33 AM
A Canada-based auto supplier plans to move operations from Michigan to LaGrange County. Exo-US LLC says it will create up to 250 jobs in Howe by 2016. The company plans to invest nearly $7 million in the project.
October 9, 2013
HOWE, Ind. (Oct. 9, 2013) - Exo-s US, LLC, a supplier of injection and blow molded thermoplastic systems, announced plans today to relocate its operations from Three Rivers and Centreville, Mich. to here, creating up to 250 new jobs by 2016.
The Quebec, Canada-headquartered company, which supplies HVAC duct, engine covers and related products to the automotive industry, will invest $6.8 million to move its manufacturing to a 191,000 square-foot facility in LaGrange County. With plans to begin Indiana operations early next year, the company's move will optimize its production costs and add space to accommodate future expansions.
"As one of the country's leading manufacturing states, there is no better place for Exo-s to bring its business than Indiana," said Governor Mike Pence. "The Hoosier State's sound stat sheet, business-friendly culture and hardworking workforce are just a few of our many compelling values for attracting new business. As a state that works for business, Exo-s is going to enjoy calling LaGrange County home."
Exo-s, which currently has more than 200 full-time employees at its Three Rivers and Centreville, Mich. facilities, plans to begin hiring machine operators, manufacturing associates, technical and engineering personnel early next year to support the transfer of operations. Interested applicants can contact the company's human resources department by mail at P.O. Box 328, Three Rivers, MI, 49093 or by email at email@example.com.
"The move will allow Exo-s to accommodate planned expansion of operations to support increased customer demand for our high quality products, while holding the line on cost," said Todd Fowler, plant manager at Exo-s' Three Rivers location. "Representatives of the local and state government, and the local business community partnered with Exo-s to present an offer that is perfectly aligned to our company's future plans."
The Indiana Economic Development Corporation offered Exo-s US, LLC up to $2.75 million in conditional tax credits and up to $225,000 in training grants based on the company's job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. LaGrange County will consider additional tax abatement at the request of the LaGrange County Economic Development Corporation.
"We are thrilled that Exo-s has decided to make their home in LaGrange County," said Jac Price, president of the LaGrange County Commissioners. "We look forward to working with them as they start their new Howe location."
With Indiana's expertise in advanced manufacturing, automotive suppliers like Exo-s find a natural home in Indiana. More than 630 automotive companies currently operate across the state, with each company enjoying a competitive advantage from Indiana's low taxes, limited regulation and pro-growth policies.
Exo-s is a 2012 recipient of the General Motor's Supplier of the Year award. The founding company, Bombardier, opened its first injection molding plant in Quebec in 1968. In 1982, Bombardier's rubber, fashion and plastics facilities became Camoplast. In 2010, Camoplast acquired Solideal. Exo-s was established in 2012 to foster the growth of the Polymer Solutions Division of Camoplast Solideal.
Exo-s is a leading supplier of injection molded and blow molded automotive products such as engine covers, thermal systems (HVAC), coolant reservoirs, washer reservoirs, and air induction systems. The company also manufactures specialty products for a wide range of markets including agriculture, all-terrain utility vehicles, toys, and household appliances. In total Exo-s employs more than 600 people in the United States and Canada.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president 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 Corp.