Milford-based CTB Inc., a subsidiary of Berkshire Hathaway Inc., plans to add up to 80 workers by 2017. The agricultural systems manufacturer intends to invest more than $7 million into a new Kosciusko County facility to handle increased poultry and egg technology production. October 13, 2014
MILFORD, Ind. – CTB, Inc., a global designer, manufacturer and marketer of agricultural systems and solutions, announced plans today to expand its manufacturing operations here, creating up to 80 new jobs by 2017.
The Milford-headquartered company, which is a wholly-owned subsidiary of Berkshire Hathaway Inc., will invest $7.11 million to construct and equip a 45,000 square-foot facility on its 127-acre campus in Milford, in addition to optimizing portions of its existing structures. The facility, which is expected to be operational by mid- 2015, will allow the company to increase its manufacturing operations and add storage to support projected growth in its global Chore-Time poultry and egg production systems business unit.
“CTB's focus is Indiana's strength. Here in the Hoosier State, home to the highest concentration of manufacturing jobs in the nation, we make things and we grow things,” said Governor Mike Pence. “By building the systems that power global agriculture, CTB finds the ideal home for continued success in Indiana, with Hoosiers at the helm.”
CTB, which currently employs approximately 700 full-time Indiana associates, plans to begin its first hiring phase in 2015 and expects to continue to add positions as revenue grows. Interested applicants may visit www.ctbinc.com/positions.php for information about how to apply for open positions.
“We already have a substantial investment in Milford with a long-term, highly-skilled workforce and a special relationship with Kosciusko County that goes back decades,” said Chris Stoler, executive vice president of the Chore-Time Group. “With the financial assistance of Indiana and the Milford community, we're glad to be able to leverage the logistical, efficiency and employment advantages of building in Milford rather than another location.”
Founded as Chore-Time in 1952, CTB works to improve efficiency in caring for poultry and livestock, as well as enhancing the storage, conditioning and handling of grain. With $1 billion dollars in annual sales, CTB serves the grain, poultry, pig and egg production industries, producing systems for post-harvest grain management, equipment for raising poultry and livestock and systems for poultry processing. A global company, in addition to its Milford headquarters CTB operates additional manufacturing and warehouse facilities in Frankfort and Vincennes, Indiana, a number of other U.S. states and seven additional countries. These are supplemented by additional sales and service locations around the world and a global network of independent dealers and distributors.
The Indiana Economic Development Corporation offered CTB, Inc. up to $600,000 in conditional tax credits based on the company's investment and job creation plans. The town of Milford will consider additional incentives at the request of the Kosciusko Economic Development Corporation.
“The town of Milford was really excited about this further expansion of CTB,” said Doug Ruch, vice president of the Milford Town Council. “They have already added a lot of great jobs this year with more to come in their hometown. CTB is a major world-class manufacturing employer that benefits the town of Milford and all of Kosciusko County.”
Companies like CTB make up Indiana's manufacturing base, which represents 25 percent of Indiana's economy and 97 percent of Indiana's exports, according to Conexus Indiana. Manufacturing contributes $64 billion to Indiana’s economy annually.
CTB, Inc. (www.ctbinc.com), a Berkshire Hathaway company, is a leading global designer, manufacturer and marketer of systems and solutions for preserving grain; producing poultry, pigs and eggs; and processing poultry. Its products and services are “Helping to Feed a Hungry World” through grain storage, handling, conditioning and structures; through improved efficiency and air quality management in the care of poultry and livestock; and through efficient and high yield poultry processing. CTB also produces premium equine stables and makes equipment for various industrial applications. Founded as Chore-Time in 1952, CTB has been dedicated to “Leadership Through Innovation” throughout its history. Based in Milford, Indiana, U.S.A., the company operates from multiple locations in various countries around the world and serves its customers through a worldwide network of independent dealers and distributors.
CTB continues to focus on its strategy for growth, which includes emerging as the best cost manufacturer in the industries it serves, emphasizing its product-driven focus, expanding its global physical presence, fortifying the company through acquisition and enhancing its financial strength.
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: The Indiana Economic Development Corp.