Steuben County Employer Announces ExpansionPosted: Updated:
An electrical equipment manufacturer is expanding in Angola. Electric-Tec LLC, a unit of Fort Wayne-based Khorporate Holdings Inc., is planning to add to its existing facility, which currently employs nearly 40. The Angola City Council has approved tax abatement for the $650,000 project. August 21, 2013
(Angola, IN) Electric-Tec, LCC, a manufacturer of power cords, wire harnesses and electronic equipment for medical, agriculture, automotive and other industries, announced plans to expand its existing Angola operation. The company was acquired by Fort Wayne-based Khorporate Holdings, Inc. in November 2012 and has enjoyed a 25 percent growth rate in the first half of 2013.
Since acquiring the business, Electric-Tec has invested nearly $100,000 in new equipment and has added four new jobs, bringing the total workforce up to 36. With this expansion, over 15,000 sq. ft. will be added to the existing 20,000 sq. ft. facility and more equipment will be added. The Angola City Council approved a tax abatement for the $650,000 building addition at its August 19th meeting. Electric-Tec anticipates hiring 5 new employees in the coming months.
The expansion will allow the company to layout the operations to gain efficiencies and create a better work environment for production. With the recent acquisition, Electric-Tec will be operated as a family-owned business with Dan Khorshid as serving as president of the company. The investment that the Khorshid family has made is a long-term investment in the business and the community. Other northeastern Indiana companies owned by Khorporate Holdings include X-Y Tool & Die in LaOtto, and Mossburg Industries in Garrett.
“We are happy to welcome the Khorshid family to Angola”, stated Richard Hickman, Mayor of the City of Angola, adding “We hope to continue to support their growth and expansion in the community”.
Electric-Tec has operated in Angola since it was originally started by Neal Gaff in 1972. It moved to its existing facility in the Angola Growth Park in 1987. In 2006 the business was sold to Wayne Luchenbill and a group of investors and it continued to grow, add employees and improve manufacturing processes. The company does not try to compete in the high volume market, instead focusing on smaller quantity, specialty items and providing superior customer service.
“We are confident that with the workforce we have in Angola and the customer satisfaction the company has earned over the years that Electric-Tec has great growth potential in Angola”, stated Dan Khorshid, President of Electric-Tec. “We appreciate the city’s welcome and look forward to a long partnership”.
Source: Steuben County Economic Development Corp.