Carrier Set in Indy For 'At Least' a Decade

Posted: Updated:

Indiana Secretary of Commerce Victor Smith says Carrier Corp.'s reconsideration of moving manufacturing jobs from its Indianapolis plant to Mexico signals a "decade commitment, at least." Plans now call for retaining about 1,000 jobs and include a $16 million investment to transform the operation into what the company says will be a Center of Excellence for gas furnace production. In a clip from an interview that will air this weekend on Inside INdiana Business Television, Smith says he thinks the plant will become the preeminent facility of its kind in North America.

Inside INdiana Business has reported the Indiana Economic Development Corp. plans to give the subsidiary of Connecticut-based United Technologies Corp. (NYSE: UTX) a total incentive package of $7 million over the next ten years.

The economic impact of UTC's initial announcement to pull production operations in Indianapolis has already been felt keenly throughout the state. The United Technologies Electronic Controls Inc. headquarters in Huntington, which is also owned by UTC and is a Carrier supplier, still appears headed for closure. It employs some 700 workers. Huntington Mayor Brooks Fetters told our partners at WPTA-TV in Fort Wayne he remains hopeful those jobs could be retained in light of Carrier's change of course.

Another manufacturer with a presence in Indianapolis, Rexnord Corp. (NYSE: RXN), detailed plans last month to move its manufacturing operations and 300 jobs out of Indy to Monterrey, Mexico, the same city the Carrier was slated to go.

PNC Financial Services Regional Economist Kurt Rankin estimates that by virtue of 1,000 Carrier jobs staying, $38 million in wages will remain in Indianapolis. He says the state's economy also benefits from this type of job, adding Carrier workers have a "highly sought-after skill set" and could be candidates to leave Indiana if work dried up. Rankin says a reduction in high-paying jobs like the ones at Carrier would also cut into home values in the community.

You can see more of the interview with Victor Smith this weekend on Inside INdiana Business Television.

  • Perspectives

    • Why Blogging Without Rules Produces the Best Content

      I spend a lot of time talking with people about what makes writing good. Depending on who you ask, good writing might be exciting and illustrative. It might be simple and efficient. If you ask someone who works in marketing, good writing translates to whatever helps a marketing strategy generate more leads, or more sales, or more of whatever a business is looking to gain. Though I fully respect and agree with this results-oriented perspective on content, in practice it can be...



  • Most Popular Stories

    • The Honda Greensburg plant opened in 2008.

      Honda to Invest $4M, Add Jobs at Greensburg Plant

      The American Honda Motor Co. continues to invest in its Greensburg, Indiana plant as it has announced the factory will be producing the company’s first electrified sport utility vehicle in the U.S. The company says it will invest more than $4 million and add 34 new jobs in the plant to support production of the CR-V Hybrid.  

    • (photo courtesy of The Times of Northwest Indiana)

      Valpo Mansion May Fall to Wrecking Ball

      A one-time mansion that once hosted dignitaries and politicians while they visited Valparaiso appears to be facing demolition, following years of decline and disrepair.  The stately mansion, known locally as the Brown home, maybe knocked down and replaced with condominiums, according to our partners at The Times of Northwest Indiana. 

    • Socio received the Top-Rated Overall Culture award. (Provided Photo/Socio)

      Inaugural Tech Culture Award Winners Unveiled

      Indianapolis-based Powderkeg has unveiled the winners of the inaugural Indiana Breakout Tech Culture Awards. Eleven Hoosier tech companies received the honors based on survey rankings from the 2019 Tech Census, which focused specifically on tech cultures. Nearly 270 tech companies were nominated and the winners were selected from a group of 50 finalists. More than 1,300 individuals responded to the survey, which allowed employees to rate their companies and employers on...

    • Photo courtesy of Purdue University

      Purdue Offers 'Stranger Things' Replica Tee

      Purdue University has partnered with trademark licensing agent CLC to produce a special-edition replica Purdue shirt that appeared on an episode of Netflix’s “Stranger Things 3.”  The university also teamed up with Venley to accurately replicate the shirt, which will be available at retailers on the West Lafayette campus and online later this month.

    • Mearns was named Ball State's president in 2017.

      Ball State President Bullish on Growth Potential

      The president of Ball State University says he is optimistic about the growth trajectory for the school and the Muncie community at large. Ball State recently set a new record for total enrollment with more than 22,000 students, including its largest-ever freshman class. The university is also continuing with several major capital projects, including the more than $87 million Foundational Sciences building, which broke ground earlier this month. In an interview in Studio (i) with...