Manufacturer Details Job Creation PlansPosted: Updated:
Georgia-based Southwire Co. wants to add more than 100 jobs in Bremen as part of a relocation plan. The cable manufacturer intends to invest $2.1 million into expanding and equipping a subsidiary's Marshall County facility, which it says will be fully-staffed by the end of next year. November 11, 2014
BREMEN, Ind. - Southwire Company, a wire and cable manufacturer, announced plans today to expand its operations here, creating up to 105 new jobs by 2016.
The Georgia-based company, which purchased Illinois-based Coleman Cable in February, will invest $2.1 million to purchase and equip a new 48,000 square-foot facility in Bremen. The facility, which will be fully staffed by the end of 2015, will allow the company to relocate manufacturing capacity for its original equipment manufacturer and industrial divisions to Bremen.
"Indiana's focus on job creation, cutting red tape and improving our infrastructure continues to pay dividends, but our state's greatest strength is still its deep and talented workforce," said Governor Mike Pence. "Companies like Southwire recognize the tremendous potential for growth here in Indiana, where our skilled Hoosiers, a stable business climate and low taxes prove once again Indiana is a state that works."
Southwire, which currently employs 310 full-time Indiana associates, is now hiring for additional production, maintenance and distribution positions. Interested applicants may apply by visiting www.applytosouthwire.com.
"Southwire's acquisition of Coleman Cable, including the Bremen operations, provided a key step in our strategy to grow into new, diverse markets," said Stu Thorn, president and chief executive officer of Southwire. "We now are working together to position ourselves at the forefront of the wire and cable industry, while continuing to provide world-class service to our customers. With its central local and the availability of resources and skilled labor, Bremen provides a perfect focal point for that growth."
Founded in 1950, Southwire is North America's largest and the world's third largest producer of wire and cable used in the transmission and distribution of electricity. Its customers include the nation's top utilities, electrical distributors, retailers and do-it-yourselfers, as well as manufacturers that use the company's wire in their own products. In 2013, Southwire was named supplier of the year by Southern California Edison and Pacific Gas and Electric.
The Indiana Economic Development Corporation offered Coleman Cable, LLC up to $750,000 in conditional tax credits and up to $200,000 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. Marshall County approved additional incentives at the request of the Economic Development Corporation of Marshall County.
"We're excited that the Southwire Company has decided to expand their presence in Bremen, again," said Jim Leeper, president of the Bremen Town Council. "Southwire is a valued employer in the community and I’m glad that the town will partner with the state of Indiana to support Southwire's commitment to grow the Bremen operations and create more good jobs for area residents."
Growing manufacturing companies like Southwire continue to find themselves at home in Indiana. Earlier this year, Universal Bearings, a manufacturer of loose needles and needle bearings, announced plans to build a new 100,000 square-foot building on its 13-acre campus in Bremen, creating up to 78 new jobs in the coming years.
About Southwire Company
A leader in technology and innovation, Southwire Company is North America's largest wire and cable producers. Southwire and its subsidiaries manufacture building wire and cable, metal-clad (MC) cable, cord products, utility cable, industrial power cable, OEM wire products, SCR copper and aluminum rod, and continuous casting technology. Southwire also supplies MAXIS Contractor Equipment and Southwire Electrician's Tools to the commercial, industrial, retail, electrical wholesale outlet and utility construction markets. To learn more about Southwire's products, community involvement, and sustainability vision, please visit www.southwire.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.