updated: 2/9/2012 12:22:54 PM
A refrigerated warehouse company is expanding in Franklin. Interstate Warehousing Inc. plans to invest $26 million in a two-phased project. The company says it intends to add 50 workers.
February 9, 2012
FRANKLIN, Ind. (Feb. 9, 2012) - Interstate Warehousing, Inc., a Tippmann Group company, announced plans today to expand its operations here, creating up to 50 new jobs by 2014.
The refrigerated warehouse company will invest $26 million throughout two phases beginning with the expansion of the company's current 428,000 square-foot facility by 140,000 square feet. The expanded portion of the cold storage facility is slated to be fully-operational by July.
"At the heart of the nation, Indiana's extensive infrastructure serves 80 percent of the nation's population within a day's drive," said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Innovative and adaptive logistics companies like Interstate Warehousing recognize the advantage of being in the best location and the Hoosier State provides precisely that."
Interstate Warehousing, which currently has 175 full-time employees in Indiana, plans to begin hiring additional warehouse associates this summer.
"Over the past few years, we have seen solid growth from the customers that we service out of our Franklin facility," said Chuck Tippmann, president of Tippmann Group. "In order to keep up with that customer growth, we are continuing to expand our operations in Franklin. We anticipate future growth in the coming years and have a master site plan in place that will allow this facility to expand even further as our customers continue to grow their respective business."
Founded in 1972, the Fort Wayne-based company operates additional cold-storage facilities in Ohio, Michigan, Colorado, Illinois, Virginia and Tennessee. Interstate Warehousing is among the top-ten public refrigerated warehouse companies in North America with more than 80,000,000 cubic-feet of refrigerated and frozen storage space throughout the country.
The Indiana Economic Development Corporation offered Interstate Warehousing, Inc. up to $200,000 in conditional tax credits and up to $100,000 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 Franklin approved additional property tax abatement and tax-increment financing at the request of the Johnson County Development Corporation.
"It is a privilege to have a company like Interstate Warehousing located in Franklin," said Franklin Mayor Joe McGuiness. "I am extremely excited for their expansion and improvements in our community. They are an asset to our city, county and state. In the future, I look forward to assisting in their continued growth."
Interstate Warehousing's expansion comes just two weeks after Sunshine Manufacturing, a producer of tanning products and lotions, announced plans to relocate a manufacturing facility from Tempe, Ariz. to nearby Indianapolis, creating up to 180 new jobs through 2015.
About Interstate Warehousing
Interstate Warehousing, Inc., a Tippmann Group company, offers more than 50 years of experience in the refrigeration industry, specializing in management and construction of refrigerated and frozen distribution centers. Interstate Warehousing has 8 facilities located throughout the U.S. and offers customized distribution programs. Tippmann Group is also a design and build construction company for new builds, expansions or renovations.
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 Corp.