A company that manufactures fiberglass components for the marine, RV and specialty vehicle markets has announced plans to establish operations in Bourbon. Indiana Composites LLC will move into a 75,000 square-foot facility, creating up to 198 jobs by 2019.
The company is a new venture and subsidiary of Angola-based IMP Holdings. Indiana Composites will invest $3.95 million to locate in Bourbon by purchasing, renovating and equipping the facility. Construction is expected to begin this month with some manufacturing operations beginning this spring. The facility is expected to be fully operational by early 2017.
"Indiana Composites’ decision to invest in Bourbon speaks well to our community’s dedicated workforce and the opportunities for businesses across Marshall County," said Kevin Overmyer, president of the Marshall County Commissioners. "The support to bring this project to fruition has been outstanding, and I’m glad that the Town of Bourbon is part of this company’s growth in Indiana."
The Indiana Economic Development Corp. says the company expects to begin hiring fiberglass technicians this month, with average salaries above the average wage in Marshall County.
The IEDC has offered Indiana Composites up to $1 million in conditional tax credits and up to $40,000 in training grants based on the company’s job creation plans. The company won’t be eligible to claim those incentives until Hoosiers are hired. The town of Bourbon will also consider additional incentives.