New Albany Companies GrowingPosted: Updated:
Two Floyd County companies are planning expansions. S&J Precision Inc. says it will pump $3.6 million into consolidating two facilities and creating 23 jobs. Chester Pool Systems Inc. says it will invest $870,000 into growing its New Albany operations and double its work force by 2018. November 7, 2014
NEW ALBANY, Ind. - One Southern Indiana today announced two New Albany companies, Chester Pool Systems, Inc. and S&J Precision, Inc., received property tax abatements from the City of New Albany and accepted incentives from the State of Indiana, signaling their intentions to expand in Southern Indiana.
Chester Pool Systems, Inc. is a design-build aquatics firm focusing on products that address unique individual requirements, conditions, and challenges, including rooftop or "lofted" pools, spas and water features.
With the recovery of the economy, Chester Pool Systems, Inc. experienced an 85% increase in sales from 2013 to 2014. This growth is set to continue with current in-house contracts for the next fiscal year at a point of 40% above the same period last year. In order to accommodate this growth, Chester Pool Systems, Inc. is expanding its manufacturing space at 5311 Foundation Boulevard in New Albany by 7,500 square feet. The added space will be used to house additional equipment and staff, creating an estimated 21 new full time positions by 2018.
Along with the tax abatements from the City of New Albany, up to $200,000 in Economic Development for a Growing Economy (EDGE) incentives have been offered by the Indiana Economic Development Corporation. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
"We truly appreciate the support we've received from the City of New Albany, the State of Indiana, and One Southern Indiana," said Greg Carnforth, vice president of Chester Pool Systems, Inc. "As we weighed our options for this expansion project, the support we received from everyone convinced us to move ahead with our plans for growing our business."
"Indiana is in motion, with a business climate that’s strong and only growing stronger," said Eric Doden, president of the Indiana Economic Development Corporation. "Chester Pool has done innovative work all over the country, but decided to expand in the Hoosier State. From our infrastructure to our workforce, companies find calm waters for business in Indiana."
The second project approved for incentives was S&J Precision, Inc., which was formed in 1990 by Sheila and Steve Wallace in a two-car garage. In 1998 their son Jason graduated from college and came to work for the company and is currently the general manager of the company. S&J Precision, Inc. is a complete machine shop services company that makes parts out of a variety of different materials, as well as designs and builds custom machines and automation. By 1996, S&J Precision, Inc. had grown from five to 15 employees, necessitating the move to an expansive new 16,000 square foot facility, and in 2005 the company added an additional 9,000 square feet to its existing building. In 2006 S&J Precision, Inc. purchased another 9,000 square foot facility to accommodate the expanding business.
S&J Precision, Inc. will be building a 48,000 square foot facility in the Grantline Business Park. Currently they occupy 34,000 square feet divided between two manufacturing facilities. This $3.6 million project will increase efficiency by consolidating both operations into one space and providing additional manufacturing space. In addition, the new location provides the company future growth potential up to 100,000 square feet. The proposed project would be the fourth major expansion since the company’s opening in 1990 and is estimated to add an additional 23 to its current staff of 41.
"Our decision to stay here in Southern Indiana and grow our business here was easy, especially when we received the outpouring of support and assistance from the state, city and One Southern Indiana," said Steve Wallace, vice president of S&J Precision, Inc. "They truly stepped up to let us know how valued we are as a business here." The Indiana Economic Development Corporation offered up to $100,000 in EDGE tax credits to S&J Precision, Inc. over a 10-year period. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
"Precision and execution is what separates the best from the rest," said Eric Doden, president of the Indiana Economic Development Corporation. "Indiana has created an environment for businesses to thrive with a strong infrastructure, business-friendly taxes and a workforce ready to tackle any challenge. S&J Precision grew out of the bold execution of two entrepreneurs, the support of the local community and the skill of the Hoosier workforce. That's what's possible in a state that works."
"The City of New Albany applauds these companies for their growth here in our community," said New Albany Mayor Jeff Gahan. "Each time a company expands it is further proof of our increasing economic base and thriving employment opportunities. We celebrate the success of these businesses."
President of One Southern Indiana Wendy Dant Chesser said, "It is incredibly satisfying to see local companies expand due to the increased demands for their goods or services. The choice of S&J Precision, Inc. and Chester Pool Systems, Inc. to build and expand in Southern Indiana is a testament to the business friendly environment of the region and is an indicator of their commitment to our community as well as our commitment to their success." She also stated, "It is notable that not only are industries who focus on business to business sales growing but also manufacturers who provide consumer luxury goods. It is a great indicator of the growing economy, both regionally and nationally."
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 Chester Pool Systems, Inc.
Chester Pool Systems, Inc. is a Design-Build Aquatics firm focusing on products that address unique individual requirements, conditions, and challenges. Chester Pool Systems, Inc. is backed by the experience and knowledge gained in over 50 years of engineering and installation of commercial and institutional swimming pools. Chester Pool Systems, Inc. fills a specialized niche in the market for Rooftop or “Lofted” Pools, Spas and Water Features and products are typically fabricated complete or in sections up to 16’ wide and shipped across the nation. Customers range from schools, recreation centers, hospitals, health clubs, apartments, condominiums, swim and country clubs, hotels, resorts, and premier residential homes. Chester Pool Systems, Inc. provides the solution to the common thread among their clients, the desire for an attractive, low maintenance swimming facility, the ability to provide solutions for special project requirement