A Floyd County-based manufacturer is planning to add as many as 160 jobs by 2019 as part of a more than $23 million expansion. Beach Mold & Tool Inc. wants to construct a new warehouse next to its current facility in the New Albany Industrial Park. Chief Financial Officer Dale Yost says the area possesses a ready work force to support the growth. The new warehouse is expected to be complete in a little more than a year. It will add 140,000 square-feet of space to existing manufacturing and assembly operation that currently encompasses close to 500,000 square-feet.
The investment involves more than just space. It also includes larger-scale injection molding equipment that will help the company meet demands of partners ordering bigger components than its current machines can create.
Beach Mold & Tool also has a location in Virginia. Dales Yost tells Inside INdiana Business the company was focused on New Albany for the expansion.
The company was founded in the early 1970s by William and Juanita Beach. Its clients include Fortune 500 companies. It provides components to the automotive, medical, business technology and consumer product industries.
If performance and hiring conditions are met, Beach Mold & Tool will receive up to $1,250,000 from the Indiana Economic Development Corp.
Yost says he expects the company to also receive the local abatement approval the company is requesting.