IQPack Seeks Expansion in New Albany
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPackaging and supply-chain solutions company IQPack will next week seek consideration for expansion plans before the city’s redevelopment commission. The company will request incentives of training reimbursement funds up to $10,000 annually for up to three years, as part of the more than $1 million project.
If the incentives are approved, IQPack says the project would require the hiring of more than 50 employees from Floyd County.
“There is a major need for what we do, as many e-commerce and manufacturing companies are struggling to optimize their packaging operations and shipments to support more efficient supply chains. This has been a consistent problem in the industry for generations,” said John Moore, co-Founder and director of packaging for IQPack.
IQPack says the plans are being set in motion to accommodate a new two-year software development contract.
New Albany Mayor Jeff Gahan said, “While the Midwest is known as the manufacturing hub of the nation, the City of New Albany is also an ideal location for technology-driven companies looking for a smart, highly-skilled labor force. The planned expansion of IQPack illustrates this point perfectly, and the City of New Albany will continue to assist the company in its efforts to grow and succeed.”
The Indiana Economic Development Corp. has offered the company up to $1.5 million in conditional tax credits based on job creation plans.