The president of Beck's Hybrids says Indiana's economic and corporate tax climate compelled the company to expand in Hamilton County instead of surrounding states. Sonny Beck says even though seed delivery costs may be a little higher from the Atlanta headquarters, Illinois and Ohio failed to match Indiana's offer. The company is planning to pump $60 million into what Beck calls a research and processing “mega-center” that could create 100 jobs by 2017. April 2, 2014
ATLANTA, Ind. – Lieutenant Governor Sue Ellspermann joined executives from Beck's Hybrids, the nation’s largest family-owned seed company, today to announce the company's plans to expand its headquarters, production, research and distribution operations here, creating up to 100 new jobs by 2017.
“Indiana's economic growth is sprouting from farms across the state,” said Ellspermann. “Here in America's heartland, growing the food on our tables and building the tools for our world remains a Hoosier specialty. The innovation coming from Beck's Hybrids melds the two, developing high-performance seeds for our farmers. Through their work, companies like Beck’s Hybrids are creating more jobs and more opportunities for Hoosiers, just part of what helps make Indiana a state that works for business.”
The homegrown-Hoosier company will invest $60 million to renovate and equip its current one million square-foot headquarter operation in Atlanta, Ind. The expansion will ease the company's continued growth, which has been advancing by nearly 20 percent annually for the last 40 years. The expansion, which begins this summer, will take approximately three to four years to complete. The expansion includes research labs, greenhouses, seed processing facilities and equipment, as well as office space designed to better serve farmers.
“Over the last few years, we've experienced significant growth across our marketing area with new sales territories, new facility locations and new employees,” said Sonny Beck, president of Beck's Hybrids. “This expansion not only shows our commitment to Midwest farmers, but our long-term partnership with the community, county and state of Indiana.”
Beck's Hybrids, which currently employs more than 400 people across the Midwest, including upwards of 290 full-time employees in Indiana, plans to begin hiring for positions this summer. Interested applicants may apply by visiting www.beckshybrids.com/quick-links/careers.
New construction projects this year include two new 4,000 square-foot greenhouses and the expansion of the biotechnology building. The biotechnology building expansion will provide more office and laboratory space for Beck's Hybrids and other companies to use for research and product development. The company will also add four machinery storage buildings for trucks and seed equipment. In the next three to four years, the expansion includes an additional soybean seed processing tower that is expected to produce one million bags of seed in the first year. As growth continues, new seed drying and storage facilities will be constructed.
“Hamilton County is pleased to support the expansion of Beck's Hybrids operations at their U.S. headquarters in Atlanta, Ind.,” said Rick McKinney, president of the Hamilton County Council. “We are excited by their continued growth and their decision to invest in Hamilton County. We have supported their previous expansions, which have exceeded projected goals.”
Founded in 1937, Beck's Hybrids began when Lawrence Beck and his son, Francis, planted hybrid parent seed corn developed by the botany department at Purdue University. The family-owned and operated business provides farmers with high-yielding corn, soybean, wheat and forage products. Serving farmers across the Midwest, Beck's Hybrids operates additional Indiana facilities in Sharpsville, West Lafayette and Noblesville with operations also in Illinois, Kentucky, Ohio and Iowa.
The Indiana Economic Development Corporation offered Beck's Superior Hybrids, Inc. up to $825,000 in conditional tax credits and up to $75,000 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. Hamilton County will consider additional property tax abatement at the request of the Hamilton County Alliance.
About Beck's Hybrids
Beck’s Hybrids is a family-owned and operated seed company that serves farmers in Indiana, Illinois, Ohio, Michigan, Kentucky, Tennessee, Iowa and Missouri. According to a recent media survey, Beck’s ranks as the sixth largest seed company in the United States and the only one in the top six that is family-owned, making Beck's the largest retail, family-owned seed company in the United States.
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: Indiana Economic Development Corp.