Yorktown-based Mursix Corp. has announced plans to expand its headquarters and create more than 100 jobs by 2017. The company says the $7 million investment will allow it to build components for alternative energy applications for use in the automotive, electronics and security markets. Chief Executive Officer Todd Murray says increased demand for hybrid vehicles has led in large part to the expansion. Mursix employs nearly 300 at its Yorktown and Indianapolis facilities.
May 8, 2014
Yorktown, Ind. — Mursix Corporation, a manufacturer of precision components, announced plans today to expand its headquarters here, creating up to 108 new jobs by 2017.
“One component at a time, employers like Mursix are building Indiana's economy,” said Governor Mike Pence. “Like other growing Hoosier companies, Mursix understands the advantage it gains here in Indiana, with a lower cost of doing business, constantly shrinking red tape and the best manufacturing workforce available. Indiana is proud to be a state that works where employers can get things done, inspire excellence and achieve their big dreams.”
The homegrown-Hoosier company will invest $7.1 million to expand and equip its headquarter facilities, adding 75,000 square-feet of manufacturing space to the existing 175,000 square-foot building on its 15-acre campus in Yorktown. The expansion will allow Mursix to produce components for alternative energy applications, such as converters and inverters used in hybrid trucks and vehicles.
Mursix, which employs more than 280 Hoosiers at its Yorktown and Indianapolis facilities, will begin hiring for manufacturing, engineering, quality and administrative jobs over the remainder of the year.
“We have always been an Indiana company and are proud to remain so,” said Todd Murray, chief executive officer of Mursix. “My parents are natives of Bedford, Ind., and my brothers and sisters and I grew up in Indianapolis and Muncie. We all still live in Indiana. In addition to our objective of supplying quality products to our customers, we have also always considered the creation of jobs and the welfare of the families those jobs support as one of our primary objectives. Our people build things. The jobs we provide build families.”
Founded in 1990 by Steve and Irene Murray, Mursix manufactures precision components for the automotive, appliance, alternative energy, electronics and security markets. Supplying to OEMs, tier 1 and tier 2 companies, the company has received quality awards from Emerson Electric, General Motors and Delphi and was named a 2008 Company to Watch and a 2010 Company to Watch Spotlight Award winner.
The Indiana Economic Development Corporation offered Mursix Corporation up to $625,000 in conditional tax credits and $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. Delaware County will consider additional incentives at the request of Muncie-Delaware County Economic Development Alliance.
“Muncie-Delaware County and the town of Yorktown are very excited about this job and building expansion announcement,” said James King, president of the Delaware County Commission. “Mursix's continued growth in our community is a testament to local government and business working together.”
Mursix, headquartered in Yorktown, Indiana, is a manufacturer of precision components for the automotive, appliance, alternative energy, electronics, security, and other markets. The company operates manufacturing facilities in Yorktown and Indianapolis. In 2008, Mursix was designated as one of the inaugural “Indiana Companies to Watch” by the Indiana Economic Development Corporation and, in 2010, was named as one of five inaugural IEDC Spotlight Award honorees. Mursix is TS 16949:2009 and ISO 9001:2008 certified and is the recipient of numerous Quality Awards from Delphi, GECOM, General Motors, Lear, Keihin, Eaton, Nexteer and many other suppliers, and has been awarded four Quality Improvement Awards from the state of Indiana.
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.