Thousands of New Jobs Cap Record YearPosted: Updated:
Sixteen companies have announced expansion plans in Indiana. The Indiana Economic Development Corp. says the investments are expected to create a total of more than 2,150 jobs over the next several years. The largest expansions include AMI Industries Inc., which is adding 250 jobs in Plymouth, and nimblejack, which is creating 185 jobs in Indianapolis. The announcements cap off what the IEDC calls a record-breaking year, with 285 companies expanding in Indiana, accounting for more than $4 billion in investments and over 25,000 new jobs.
December 18, 2014
Indianapolis, Ind. -- Governor Mike Pence and executives from 16 companies announced today new investments across Indiana expected to create a combined 2,153 new jobs over the next few years.
"Indiana's strong economy, fiscal responsibility and pro-growth policies make days like this possible," said Pence. "Today's announcement includes some of the nation's fastest growing companies, and they have all either launched in Indiana or are choosing to move here. From tech developers to manufacturing powerhouses, the collective energy of these Hoosier businesses will help power our economy into 2015, creating jobs, promoting opportunities and investing in our future."
Today's news comes amidst the state's record-breaking year of economic development results. In 2014, the Indiana Economic Development Corporation (IEDC) secured job commitments from 285 companies from across the country and around the world, an increase from 261 companies in 2013 and more than any other year on record. The 285 companies anticipate investing $4.38 billion in their Indiana operations and creating 25,317 new jobs in the coming years. The new positions, which companies anticipate to hire over the next five years, pay an expected hourly wage of $21.75, above the state's current hourly wage of $20.17.
"Looking through the numbers, I see another promising year in Indiana's future," said Pence. "Following last year, when we implemented the largest state tax cut in history, this year our corporate income tax began its decline. Meanwhile, companies here at home, across the nation and around the world are committing at record levels to locate their new jobs here. Indiana's unemployment is dropping, showing some of the largest declines in the nation even while our labor force is growing. It's a great time to be a business in Indiana and an even better time to be a Hoosier."
Heavy-equipment parts manufacturer AMI Industries, Inc. will invest $4.2 million to equip and expand its agricultural component production at a 100,000 square-foot facility in Plymouth, creating up to 250 new jobs by 2015. The company also plans to invest $4.35 million to equip and renovate its automotive manufacturing lines, creating up to 225 additional new jobs by 2017. Currently operating out of its main facility and satellite sites, the expansion will allow AMI Industries to bring satellite operations in house, providing the opportunity to expand into new customer markets.
With more than 100 years' experience as a manufacturer of custom-designed AC and DC fractional horsepower motors, this year Bluffton Motor Works is launching more than 30 new motor ratings for the pool and spa industry. This growth is projected to generate an increase of nearly 100,000 additional motors manufactured at the company's headquarters in Bluffton, creating up to 70 new jobs by 2017. Investing $3.6 million into its 400,000 square-foot Bluffton operations, the company currently employs more than 400 full-time associates, including 325 Hoosiers.
Headquartered in Dublin, Ohio, health care services company Cardinal Health (NYSE: CAH) will construct and equip a 64,000 square-foot facility in Indianapolis, creating up to 85 new jobs by 2017. Dedicated exclusively to manufacturing Bayer Healthcare's Xofigo, the new facility is expected to be complete in 2017. The $91-billion health care services company operates two medical products distribution centers and several radiopharmacies in Indiana, which employ more than 240 Hoosiers. Cardinal Health will begin hiring specialized manufacturing roles, chemists, engineers and other professional positions when construction on the facility is complete.
A wholly-owned subsidiary of Ingram Micro (NYSE: IM), CloudBlue will invest $3.74 million to lease, renovate and equip a 110,000 square-foot processing center in Indianapolis, creating up to 50 new jobs by 2017. Providing enterprise information technology asset disposition, onsite data destruction and e-waste recycling services, CloudBlue has more than 100 locations and more than 1,000 customer organizations across the globe.
Deister Machine Company, which specializes in the manufacture of vibrating equipment for the mining, quarrying and aggregate industries, plans to invest $2.8 million to equip its 250,000 square-foot facility in Fort Wayne, purchasing two CNC lathes and a 750 ton press brake, which will be largest in the area. With the new equipment expected to be installed by March 2015, the 102-year-old, family-owned company has already begun hiring for machining and fabricating positions, creating up to 110 new jobs by 2018 to grow the company's workforce beyond its current team of 198 Hoosiers.
Founded in 2012, Middlebury-based Grand Design RV is a manufacturer of fifth wheel trailers and travel trailers, recognized as the fourth largest manufacturer of towable recreational vehicles in the industry with 2014 sales of more than $200 million. To meet the need for more manufacturing capacity, the company will invest $6.9 million to add 48 acres and infrastructure improvements to its current 67-acre campus, creating up to 330 new jobs over the next few years. Grand Design currently employs 548 full-time associates at its Elkhart County campus.
Indiana Limestone Company, the largest Indiana Limestone quarrier in North America, plans to invest $9.37 million to equip its combined 4,500-acre quarries in Oolitic and Bloomington, creating up to 75 new jobs by 2017. Indiana Limestone Company anticipates expanding its quarry capabilities by more than 40 percent in 2015, allowing it to supply builders with a limestone mix to support growth of Indiana Limestone as a key building material, which today can be seen on structures including the Empire State Building, the Pentagon and more than one third of the U.S. state capital buildings. Indiana Limestone Company, which currently employs more than 130 associates, plans to begin hiring by March.
Homegrown-Hoosier company iSALUS is a provider of a fully-unified electronic health records and practice management cloud-based platform. Expanding upon its 15 years of experience in the healthcare industry, iSALUS plans to invest $485,100 to lease and equip its 5,280 square-foot office at the Stutz Business Center in downtown Indianapolis, creating up to 136 high-wage jobs by 2023. Hiring software engineers and members for its customer service, sales and administrative staffs, iSALUS currently employs 26 full-time Indiana associates and plans to begin hiring next year.
Indianapolis-based Kite Realty Group is a full-service, vertically-integrated real estate investment trust focused on the ownership, operation, management, leasing, acquisition, construction, redevelopment and development of neighborhood and community shopping centers. Following the company's merger with Illinois-based Inland Diversified Real Estate Trust earlier this year, Kite Realty plans to invest $205,000, expanding its corporate offices by 5,865 square feet in June and creating up to 69 new jobs by 2018. Now one of the largest real estate investment trusts in the nation, Kite Realty employs more than 140 associates, with 115 based in Indiana.
Memory Ventures, a portfolio of direct-to-consumer e-commerce brands, plans to relocate its headquarters from Los Angeles, California to Fishers, creating up to 134 new jobs by