A Louisville machining and fabrication company is planning to move its operations across the Ohio River. Kellco Precision Machine & Tool Inc. intends to invest $1.8 million into a new Floyd County facility and create more than a dozen jobs over the next three years. January 13, 2015
GEORGETOWN, Ind. – Kellco Precision Machine & Tool, Inc., a producer of custom machined and fabricated products, announced plans today to relocate its operations from Louisville, Kentucky to here, creating up to 15 new jobs by 2018.
The company will invest $1.78 million to build and equip a new 15,000 square-foot facility at the Maplewood Industrial Park in Georgetown, growing its functioning space by 50 percent over its current facility with additional room for expansion. Operational by this summer, the company's new location will allow it to meet an at least 30 percent increase in demand for its machining work over the coming years.
“Indiana stands out for its manufacturing aptitude in a region known for building the products that power the world,” said Victor Smith, Indiana Secretary of Commerce. “With one of the most affordable business climates around, in Indiana companies from across the country like Kellco can invest in their operations with confidence. Powered by the skill of Hoosier manufacturing, we look forward to years of growth coming from Kellco here in the Hoosier State.”
Kellco, which currently employs 10 full-time associates, has already begun hiring machinists. Interested applicants may apply by sending a resume to email@example.com.
“The employees of Kellco are delighted to announce our intentions to relocate our operations from Louisville, Kentucky to Floyd County, Indiana,” said Scott Patterson, president and owner of Kellco. “Floyd County, Indiana provides a favorable tax structure for not just our business, but our employees as well. In addition, southern Indiana offers a peaceful rural setting on the edge of metro Louisville with a highly skilled workforce.”
Founded in 1994, Kellco is a precision machine shop, building tooling and maintenance repair parts in addition to offering general machining services. The company serves automotive, construction, amusement, military and food service clients. Purchased by its current owner in 2004, Kellco has grown three fold in the last 11 years.
The Indiana Economic Development Corporation offered Kellco Precision Machine & Tool, Inc. up to $135,000 in conditional tax credits based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. Floyd County approved additional incentives.
“Floyd County is excited about Kellco coming to the community,” said D. Mark Seabrook, president of the Floyd County Board of Commissioners. “Its new facility will be bringing high-paying jobs and investment to the Edwardsville gateway. This investment and the expansion of another local business in the Maplewood Business Park, Fabtration LLC, illustrates the efforts of the county and its newly established redevelopment commission to promote local economic development endeavors.”
Indiana boasts the highest concentration of private sector manufacturing jobs in the nation, adding 15,800 private sector jobs in November alone, the most in a one-month period in 15 years. With tax cuts passed the previous two years and one of the nation’s most affordable business climates, companies from across the region and around the world continue to choose Indiana for their growth and job creation plans.
Kellco is an innovative owner-operated precision machine shop with a reputation for excellent service and quality workmanship. The company has been in business at our current location since 1994. We provide custom machined and fabricated products such as tooling, fixtures, machinery components, short run production parts and weldments. We serve customers in a variety of fields including automotive, construction, mining, military, amusement, food and beverage.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
Source: Indiana Economic Development Corp.