Big Boost For Small TownPosted: Updated:
Jasper-based MasterBrand Cabinets Inc. has announced its second expansion in just over a year. The manufacturer intends to invest $8 million and add more than 260 workers in Ferdinand by the end of 2016. Last March, MasterBrand announced plans to create more than 70 jobs in Goshen. The company currently has six Indiana operations, which employ over 3,500 workers. April 11, 2014
FERDINAND, Ind. - Lt. Governor Sue Ellspermann joined MasterBrand Cabinets, Inc. (MBCI), a manufacturer of home cabinetry products, today to announce the company's plans to expand its operations here, creating up to 262 new jobs by the end of 2016.
"Governor Mike Pence and I congratulate the team at MasterBrand for their success that makes this announcement possible today. Today we celebrate more economic development in Indiana and more jobs for Hoosiers. Our business friendly tax and regulatory policies make Indiana a great place for businesses to start, expand and prosper," said Ellspermann. "I take special pleasure in this announcement because MasterBrand is expanding in my hometown of Ferdinand, with its headquarters in Dubois County as well."
The Jasper, Ind.-headquartered company will invest approximately $8 million in equipment that will add additional capacity and expand the product offering at its 500,000 square-foot facility located at 624 W. 3rd St. in Ferdinand. MBCI, which currently employs more than 3,500 associates at its six Indiana facilities and more than 1,500 in Ferdinand, plans to begin hiring cabinet assemblers, component pullers, shipping helpers, supervision and quality positions later this year.
"MasterBrand is committed to strategic growth that positions us to drive market share and increase our value proposition," said Dave Randich, president of MBCI. "As we expand our Ferdinand manufacturing operations, we provide both new and current employees with opportunities for development and advancement. We are proud to be a member of this community and support our local craftsmen who develop and produce high-quality, innovative cabinetry products used by consumers across the United States."
Today's announcement marks MBCI’s second Indiana expansion in recent years. In March 2013, the home cabinetry manufacturer announced plans to add 76 new jobs in Goshen, Ind. As of March 2014, the company has exceeded that goal, adding more than 109 associates at this location.
Founded in 1954 in Celestine, Ind., MBCI is a subsidiary of Fortune Brands Home & Security and manufactures standard to custom made cabinet brands such as Aristokraft, Decor?, Omega, Homecrest Cabinetry and Diamond, which are sold directly to kitchen and bath dealers, home centers, wholesalers and large builders. MBCI actively supports the local community through partnerships with Habitat for Humanity, The Nature Conservancy, American Red Cross and Junior Achievement. MBCI operates more than 25 manufacturing facilities, distribution centers and retail stores throughout North America and employs more than 10,000 people.
The Indiana Economic Development Corporation offered MasterBrand Cabinets, Inc. up to $1,250,000 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 Ferdinand approved additional tax abatement at the request of Dubois Strong.
"The town of Ferdinand is thrilled and honored that MasterBrand made their determination to expand their business here," said Ken Sicard, president of Ferdinand Town Council. "MasterBrand and their employees are an important asset as we work to grow our community."
Headquartered in Jasper, Ind., MasterBrand Cabinets, Inc. (MBCI) is the largest cabinet manufacturer in North America. Its powerful portfolio of brands - ranging from standard to custom – offers quality cabinetry solutions for kitchen, bath and other areas of the home. MBCI is an operating unit of the consumer product company, Fortune Brands Home & Security, Inc. (NYSE: FBHS). For more information, visit www.masterbrand.com.
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: The Indiana Economic Development Corp