NEW HAVEN, Ind. – The owner of an Allen county copper reclamation and production plant is making plans to expand its Indiana operations by investing $16 million in the New Haven facility.
SDI La Farga LLC is a joint venture between Fort Wayne-based Steel Dynamics Inc. (Nasdaq: STLD) and the La Farga Group based in Barcelona, Spain.
The companies say the expansion will create up to 30 new jobs by the end of 2021. SDI La Farga currently employs 74 people.
The plant reclaims scrap copper, refines it, and then produces copper rod and wire that’s sold to a variety of industries.
“This expansion will help us better serve our customers in the Midwest, and specifically in Indiana. We’ll be able to operate more efficiently, ramp up our production and create more jobs in New Haven, which has been a great place to do business,” said SDI La Farga President Kurt Breischaft.
The company says it plans to add a second furnace to its existing facility, which will allow it to produce copper 24 hours a day.
The Indiana Economic Development Corp. offered the company up to $255,000 in conditional tax credits which the company can claim once it hires Indiana residents.
New Haven City Council is also reportedly considering additional incentives.