The Evansville City Council has approved $3.5 million in incentives for a previously-announced expansion by Illinois-based Mead Johnson Nutrition Co. (NYSE: MJN). The Courier Press reports the city is also providing a training grant for Evansville residents hired by the company.
Originally Posted October 21, 2014
Evansville, Ind. — Mead Johnson Nutrition Company (NYSE: MJN), a global leader in pediatric nutrition, announced plans today to expand its operations here, creating up to 14 new jobs by 2015.
The Glenview, Illinois-based company will invest $35 million to upgrade operations and expand capacity at its approximately 300,000 square-foot manufacturing facility in Evansville. The project, which is expected to break ground later this year, includes the repurposing of existing production space, retrofitting existing machinery and the acquisition and installation of additional manufacturing equipment.
“All the ingredients for business growth come together in Indiana,” said Eric Doden, president of the Indiana Economic Development Corporation. “Mead Johnson's expansion in Evansville adds to the momentum we’re seeing at companies across the state, where a great location, available facilities and the best manufacturing workforce around help make this a state that works.”
Mead Johnson, which currently employs nearly 8,000 full-time associates worldwide, including approximately 1,000 in Indiana, plans to begin hiring next year.
“We undertook a rigorous review of options when considering where to expand our production capabilities,” said Jeff Jobe, senior vice president of global technical operations at Mead Johnson. “Evansville was selected as the site of the multi-million dollar project due to a combination of efficiency and cost-effectiveness, supported by the availability of high quality manufacturing space, a strong pool of local talent and support from the state of Indiana and the city of Evansville.”
Founded in 1905, Mead Johnson produces pediatric nutrition products, using science-based formulas designed to support a child’s growth and development. In addition to its Enfamil and Enfalac families of infant formulas, the company also produces children’s nutritional products, including Engagrow, Enfapro and Enfakid. Mead Johnson operates in more than 50 countries and distributes more than 70 different products around the world.
The Indiana Economic Development Corporation offered Mead Johnson & Company, LLC up to $125,000 in conditional tax credits and up to $125,000 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. The city of Evansville will consider additional incentives at the request of the Growth Alliance for Greater Evansville.
“I am thrilled with the company’' decision to reinvest in Evansville, which makes a strong statement that our community is a good place to do business,” said Evansville Mayor Lloyd Winnecke. “This expansion is another boost to the local economy and will result in several high-paying, professional jobs that will undoubtedly attract new workers to Evansville. Our city is proud to partner with Mead Johnson on this project, and I look forward to continuing our relationship in the future.”
Global companies like Mead Johnson continue to pick Indiana for their operations. Just last month, Haier America, a division of the multinational home appliance and consumer electronics manufacturer Haier Group, announced plans to locate its North American Tech Center in Evansville, making plans to create 50 new Hoosier jobs in the coming years.
About Mead Johnson
Mead Johnson, a global leader in pediatric nutrition, develops, manufactures, markets and distributes more than 70 products in over 50 countries worldwide. The company's mission is to nourish the world's children for the best start in life. The Mead Johnson name has been associated with science-based pediatric nutrition products for over 100 years. The company’s “Enfa” family of brands, including Enfamil infant formula, is the world’s leading brand franchise in pediatric nutrition. For more information, visit meadjohnson.com
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.