Manufacturer to Establish Salem Plant

Posted: Updated:
Indiana ranks 16th on this year's list. Indiana ranks 16th on this year's list.
SALEM -

A plastics manufacturer has announced plans to invest $2.3 million to establish a new production facility in Washington County. Tian Yuan, a joint venture with New Albany-based Shaw Brothers Co. Inc., says the plant will create up to 35 jobs by 2021. The Indiana Economic Development Corp. says the facility will be used to produce plastic resin used for the process of mixing raw plastic materials. 

The company will lease and equip the 27,500-square-foot manufacturing facility in Salem, which will begin production this month. Shaw Brothers says the plant will help meet growing demand from domestic and international customers.

"Tian Yuan and Shaw Brothers are very pleased to be making this investment in Salem," said Denise Hsiao, general manager for Shaw Brothers. "We look forward to growing our business and continuing to be a strong corporate citizen. We appreciate the assistance of the state of Indiana and the city of Salem for their willingness to work with us as well as providing a very warm welcome."

Shaw Brothers is an industry broker of plastic scrap and resins and established Tian Yuan as a joint venture to complement its recycling division. Tian Yuan has already begun hiring for sorting staff, production workers, material handlers, and other positions.

The IEDC has offered Tian Yuan up to $140,000 in conditional tax credits and up to $20,000 in training grants, which the company will not be eligible to claim until Hoosiers are hired. The city of Salem plans to offer additional incentives.

  • Perspectives

    • Hope is Not a Plan

      This is sobering. A local business broker in Indianapolis reports nine out of 10 business owners who want to sell are turned away. Of the one in 10 that does make it past the first analysis to sell, over half of those company owners don’t get the sale price they hope for or believe the business is worth. Bottom line, hope is not a plan if you want to sell your business.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Brooke's Candy Refocuses, Will Close Terre Haute Shop

      Dana-based Brooke's Candy Co. says it will close its downtown Terre Haute retail shop June 1. The location opened less than two years ago and is the company's second storefront. In a message on Facebook, Brooke's Candy Co. says the decision will allow it to focus on the Brooke's Naturals line, which includes cookie, brownie, cake and bread mixes. The company calls it a tough decision, saying...

    • Photo courtesy of Indianapolis Motor Speedway

      Red Bull to Discontinue Air Race World Championship

      The Red Bull Air Race at the Indianapolis Motor Speedway, originally scheduled for October, has been canceled as a result of Red Bull's decision to discontinue the Air Race World Championship following the 2019 season. The company says the races scheduled between June and September in Russia, Hungary and Japan will run as planned. 

    • Purdue Honors Patent Recipients

      The Purdue Research Foundation has honored nearly 80 Purdue faculty and staff members for patents earned in the 2014-2015 academic year. The organization also named biomedical engineering professor Sherry Harbin the winner of its 2015 Outstanding Commercialization Award.
    • New Owner Combines AIT Labs, Texas Company

      Indianapolis-based AIT Laboratories Inc. has merged with an out-of-state company. The combined business, called AIT Laboratories, a HealthTrackRx company, will be headquartered in Texas. HealthTrackRx currently operates a toxicology lab in Denton, which is outside of Dallas. Ancor Capital Partners is the private equity firm that owns the company. It says AIT's GuideMed narcotics prescription clinical support program will be based in Indianapolis.

    • Protecting Seniors From Fraud

      Anyone of any age can get scammed, but seniors make the easiest targets. Each year they lose billions of dollars to scam artists, friends, and too often, family members. Knowing the facts and how to react when a fraudster comes calling can reduce the likelihood of being victimized. Here's a scenario that's becoming all too common...