Floyd County Manufacturers Adding JobsPosted: Updated:
Three manufacturers in New Albany have announced expansion plans that could create more than 50 jobs. The combined investment proposals exceed $5 million. Advance Fabricators Inc., Bruce Fox Inc. and L&D Mail Masters Inc. currently employ a total of more than 200 workers in the region.
August 21, 2014
New Albany ,Ind. -- One Southern Indiana today announced three New Albany companies, Advance Fabricators Incorporated, Bruce Fox, Inc. and L&D Mail Masters, Inc. will appear in front of the New Albany City Council this evening to request property tax abatements as company leaders consider expansion opportunities.
Advance Fabricators, Inc., established in 1976, is a full-service engineering, fabrication, machining and field service company. Upon the approval of the tax abatement request, Advance Fabricators, Inc. plans to construct a new 6,000 sq. ft. steel building addition which will allow for eight new fabrication stations. Upgrades and a new security system will also be installed both in the new space and the current facility.
The proposed expansion / retention project would include a capital investment of approximately $2.1 million and would result in the creation of approximately 20 new full-time positions. This comes on top of the 25 existing jobs that will be retained, representing a total annual payroll of over $1,650,000.
"We are excited to announce the expansion of our current facility in the New Albany Industrial Park, expected to be completed mid-year 2015. This will allow us to add to our existing workforce to better serve our expanding clients," stated Gary Ragsdale, owner of Advance Fabricators, Inc. "The City of New Albany, the Indiana Economic Development Corporation and One Southern Indiana have been highly supportive of Advance Fabricators and our continued growth. We appreciate the training grant that will help us improve the skill sets of our employees, both current and new. We are thankful for our great staff and management team along with the City of New Albany, and we are looking forward to being here for a long time to come."
"Hoosier manufacturing has gained a well-known reputation," said Eric Doden, president of the Indiana Economic Development Corporation. "Indiana-made goods, like the products produced by Advance Fabricators, are high-quality and high-value. It all starts with our skilled workforce and continues onto an environment that supports business growth, all made possible in a state that works."
Also seeking abatements from the City of New Albany, is Bruce Fox, a manufacturer of custom recognition and brand building products. The homegrown Hoosier company will invest over $1,200,000 to renovate and equip its 30,000 square-foot facility at 5300 Foundation Boulevard as well as their location on McDonald Lane in New Albany over a five year period. With these renovations, the company will be able to produce a brand new product line and continue to grow its customer base. Should the abatement be granted, Bruce Fox anticipates adding 27 new positions by 2018 to the current 97 employees they now have, which will represent a new annual payroll of $972,504.
Gary Parks, Chief Operating Officer said, "Bruce Fox is recognized as the industry leader in the design and manufacture of high quality custom made recognition products. For over 75 years, our New Albany employees have proved themselves to be some of the finest artists, designers, fabricators, and craftsmen in the country. We are proud of their efforts and accomplishments and look forward to the future as we reach out to new market and growth opportunities."
The Indiana Economic Development Corporation offered Fox Group, Inc. up to $200,000 and Advanced Fabricators up to $50,000 in training grants based on the companies' job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
"Just like the recognition products produced at Bruce Fox for decades, our homegrown-Hoosier businesses deserve recognition for the impact they have in Indiana," said Eric Doden, president of the Indiana Economic Development Corporation. "Companies founded here grow with their communities and create jobs that have an economic impact beyond their walls. Equipped with Indiana's low tax rates and affordable cost of doing business, companies like Bruce Fox know that if you need somewhere to start or grow a business, Indiana is a state that works."
Additionally, L&D Mail Masters, Inc. is seeking a personal property tax abatement for an investment in equipment that will allow the company to expand services and bid on larger projects. The purchase will be an outlay of over $2.1 million and will provide work for eight additional employees, adding over $216,000 in annual payroll. This follows the company's investment of over $680,000 and two new hires in 2013. L&D Mail Masters currently employs 101 individuals at its location on Security Parkway in New Albany.
"L & D Mail Masters needed a scalable solution that would not only help us increase operational performance and lower costs, but would also allow us to adapt to meet the needs of our growing client base," said Diane Fischer, president, L & D Mail Masters. "After evaluating other high-speed solutions, it was clear that the APS Edge Inserting System will help us accomplish this so we can deliver millions of high-quality communications each month for our direct marketing and transactional mailing clients."
"The City of New Albany is very pleased to see the continued improvements and capital investment at these three companies," said New Albany Mayor Jeff Gahan. "We believe these projects and other recent expansion efforts are evidence of the growing business sector and improved economy in New Albany and herald more success to come."
“Whenever businesses with local roots decide to remain and grow in Clark and Floyd Counties, it signals their strong commitment to the people and the community we share,” said Wendy Dant Chesser, president and CEO of 1si.
"It’s encouraging these three firms have expressed such confidence in the success of their present and future operations here. These projects exemplify the importance of working to retain and assist our existing businesses, which is just as essential as attracting new businesses to Southern Indiana."
About One Southern Indiana
One Southern Indiana (1si) was formed in July of 2006 from the Economic Development organization serving Clark and Floyd counties and the Chamber of Commerce. 1si’s mission is to provide the connections, resources and services that help businesses innovate and thrive in Southern Indiana / Louisville metro area.
Since its inception, the organization has evolved to include a three prong approach to serve its members and investors. Business Resources, as the chamber side of the organization, encompasses membership, signature events and programs which support and encourage business growth; Economic Development works to grow the regional economy through the attraction of new commerce and assists with retention and expansion of existing businesses; Advocacy supports businesses at the government level by engaging in the initiatives to preserve, protect and promote a business friendly environment free of obstacles to growth and development of commerce. For more information on One Southern Indiana: www.1si.org
About Advance Fabricators, Inc.
Located in New Albany, Indiana, Advance Fabricators, Inc. is a full service engineering, fabrication, machining and field service company, who has served industry for over 38 years. The company, established in 1975, offers complete design / build services and are the largest stocking distributor of screw conveyor parts in the Louisville, KY and Southern Indiana metropolitan area. With a management team comprise of individuals with 25+ years' experience, they provide a varie