Illinois-based Lake Cable LLC is planning to expand its northwest Indiana operations. The wire and cable manufacturer says it will invest $7 million to grow its Valparaiso facility and add up to 54 jobs by 2021.
Lake Cable says construction is expected to be complete in 2020, with training and hiring set to begin that year. The privately-held, fourth-generation manufacturer was founded in 1995 and has been in Valparaiso for 14 years. The company has more tan 450 employees in five facilities in the Midwest and Florida. President Emile Tohme says the expansion will allow the company to "continue to recruit new team members locally and increase our connection to the community."
The Indiana Economic Development Corp. has offered Lake Cable up to $300,000 in conditional tax credits based on the company’s job creation plans. The city of Valparaiso will consider additional incentives later this month.