Franklin-based IBC Advanced Alloys appears set for a major expansion. Our partners at the Daily Journal report the manufacturer plans to invest more than $5 million to build and outfit a 32,000-square-feet copper casting facility on its Franklin property and grow its staff.
The Johnson County company plans to hire 25 new employees over the next five years.
The publication says the Franklin City Council this week agreed to create an Economic Revitalization Area on IBC’s property, the first step in a process to consider tax abatements.
The alloys created by the company are used in a variety of industries such as defense, aerospace, automotive, telecommunications and precision manufacturing.
The publication says a public hearing is set for February 1 which is when the council will consider IBC’s requests for a 10-year real property tax abatement and 7-year personal property tax abatement.
The expansion is set to start this spring.
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