Manufacturer Growing in Steuben CountyPosted: Updated:
A Michigan-based company is planning to expand operations in Steuben County. The Cold Heading Co. intends to pump nearly $1 million into upgrades to the Hudson facility and $4.2 million into new equipment. The move could create a small number of jobs. The company also has a facility in Fremont.
August 27, 2013
HUDSON, Ind. - The Cold Heading Company, headquartered in Warren, Michigan announced plans to invest $950,000 in a 20,000 sft. building expansion in Hudson, Indiana. Plans also call for $4.2 million in new machinery and equipment to be installed in the coming months.
According to company officials, the expansion will result in five new jobs added to the existing 49 employees currently at the Hudson facility.
The Cold Heading Company is a privately held company that specializes in fasteners for the automotive, agricultural and heavy construction industries. The company operates manufacturing facilities in Warren, Cleveland, Ohio, Fremont, Indiana and Hudson. The existing 77,000 sft. facility in Hudson was acquired by The Cold Heading Company in 1996. Two additional facilities totaling 196,000 sft. were added in Fremont in 1998 and 1999. Between the two plants, The Cold Heading Company employees approximately 150 people in Steuben County.
"Steuben County and Indiana provide our company a competitive location where we can easily reach our customers in less than a day's delivery time. We've found a reliable workforce and the communities of Hudson and Fremont are happy to help with the tax phase-in program." stated Greg Stevens, Owner of the Cold Heading Company.
Kathy Kope, President of the Hudson Town Council was delighted with the news of the company's expansion plans. "We're happy to work with The Cold Heading Company by offering tax abatement. They are a valued employer and Hudson wants the company to be competitive and profitable," stated Kope.
The Hudson Town Council approved a 10-year abatement for both, the real estate improvements and the new machinery and equipment. Over the next ten years, the company is expected to pay an additional $185,000 in property taxes as a result of the investment. The savings over the same ten year period is $230,000. Payroll at the Hudson facility alone should exceed $1.8 million per year according to estimated prepared by the Steuben County Economic Development Corp.
Source: The Steuben County Economic Development Corp.