Companies Teaming up For Port Plant ExpansionPosted: Updated:
Two companies are planning to invest more than $7.5 million into a plant expansion at the Port of Indiana-Jeffersonville. Chemtrusion Inc. and Mytex Polymers US Corp. are seeking tax abatement from the city and say the plans could lead to around a dozen jobs. January 28, 2015
JEFFERSONVILLE, Ind. - One Southern Indiana (1si) and the City of Jeffersonville announce the intention of Chemtrusion, Inc. and Mytex Polymers US Corp. to expand their facility located at 1403 Port Road in the Port of Indiana - Jeffersonville. Through the coordination of 1si, officials representing the project will appear before the Jeffersonville Redevelopment Commission tonight to discuss the parties' eligibility for local tax incentives on a combined $1.4 million in qualifying real property investment and an estimated $5.9 million in qualifying personal property investment. This process will determine the companies' eligibility to request local tax incentives at the Jeffersonville City Council meeting to be held on Feb. 2, 2015.
Chemtrusion, Inc. and Mytex Polymers US Corp. jointly developed the Jeffersonville plant beginning in 1995. Chemtrusion, Inc. provides dedicated compounding services to Mytex Polymers at the Jeffersonville plant.
Upon approval of tax abatement by the Jeffersonville City Council, the two companies will invest over $7.5 million to expand the production capacity of the Jeffersonville compounding plant, creating approximately 11 new full-time positions with an additional annual payroll of $436,000. The project would include the removal and relocation of existing equipment, acquisition and installation of new equipment, expansion of rail storage facilities, and expansion of warehouse capacity. This expansion project would increase production capacity by roughly 25 percent, as well as update technologies intended to improve competitiveness.
"We have experienced significant growth in automotive related sales during the last several years and look to capture continued growth in this segment," said Masayuki Arai, president of Mytex Polymers. "A key pillar in our parent company's strategy is capacity expansion in North America, and Jeffersonville remains an attractive location, as it is centrally located amongst many of our automotive customers."
The Indiana Economic Development Corporation has also offered the companies up to $80,000 in Economic Development for a Growing Economy ("EDGE") conditional tax credits. This incentive is performance-based, meaning until Hoosiers are hired, the company is not eligible to claim the incentive.
"We are excited about the proposed expansion project and very pleased that Mytex Polymers continues to place its confidence in Chemtrusion," said Scott Owens, president of Chemtrusion, Inc. "As we approach our twentieth year of operations in Jeffersonville, the Jeffersonville compounding facility continues to be an example of our dedication to deliver safe, reliable and efficient services to our customers."
"The City of Jeffersonville is very pleased to see the continued improvements and capital investment at Mytex Polymers and Chemtrusion," said Jeffersonville Mayor Mike Moore.
"We believe this project is one of many retention projects that are evidence the manufacturers in this area are securing their foothold in Southern Indiana."
"When businesses like Chemtrusion, Inc. and Mytex Polymers US Corp. decide to remain and grow in Clark and Floyd Counties, it signals their strong commitment to the people and the community," said Wendy Dant Chesser, President and CEO of 1si. "It's encouraging these partnering firms express their confidence by investing in new capacity and new technologies, continuing the momentum set forth in 2014 by companies located at the Port of Indiana-Jeffersonville. These projects exemplify the importance of working to retain and assist our existing businesses, which is just as critical as attracting new commerce to Southern Indiana."
About Mytex Polymers US Corp.:
Founded in 1987, Mytex Polymers compounds high-performance engineered polyolefin materials for a wide variety of applications. The company develops, tests and manufactures polymer solutions that are used in everything from automotive parts (both exterior and interior) to household appliances; from recreational vehicles and industrial equipment to specialty packaging. Mytex Polymers is a subsidiary of Japan Polypropylene Corporation, a joint venture between Japan Polychem Corporation (a subsidiary of Mitsubishi Chemical) and JNC Corporation.
About Chemtrusion, Inc.:
Chemtrusion provides compounding services to the plastics industry and conducts dedicated operations for Mytex Polymers at its Jeffersonville, Indiana compounding facility. Chemtrusion is a subsidiary of Compounding Innovation, Inc. headquartered in Houston, Texas. Chemtrusion currently employs 107 at its Jeffersonville facility.
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 the 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. More information on One Southern Indiana is available at: www.1si.org
Source: One Southern Indiana
January 28, 2015
JEFFERSONVILLE, Ind. - Chemtrusion, Inc. and Mytex Polymers US Corp., a subsidiary of Japan-based Mitsubishi Chemical Company, announced plans today to expand operations here, creating up to 11 new jobs by 2016.
The companies plan to jointly invest $7.6 million to expand and equip their 245,000 square-foot manufacturing operations in Jeffersonville by expanding their warehouse and rail storage facilities and installing new equipment beginning in March to improve competitiveness. With this growth, the companies anticipate increasing production capacity by 25 percent to allow Mytex to capture growing demand from its automotive customers.
"Look across Indiana and you’ll notice quite a few companies with Japanese connections like Chemtrusion growing here," said Victor Smith, Indiana Secretary of Commerce. "Their manufacturing operations are successful because pride and excellence in work quality are values shared in Japan and Indiana. We’re growing our economies together, with Hoosiers benefiting from new jobs from companies like Chemtrusion."
Chemtrusion and Mytex Polymers currently employ a combined 170 full-time associates, including more than 100 in Indiana. The companies plan to begin hiring for manufacturing positions in July. Interested applicants may apply in person at 1403 Port Road in Jeffersonville.
"We have experienced significant growth in automotive related sales during the last several years and look to capture continued growth in this segment," said Masayuki Arai, president of Mytex Polymers. "A key pillar in our parent company’s strategy is capacity expansion in North America, and Jeffersonville remains an attractive location, as it is centrally located amongst many of our automotive customers."
Chemtrusion and Mytex Polymers have worked together at the Jeffersonville location since it was founded in 1996. The companies develop, test