B&B Manufacturing in LaPorte has announced plans to invest nearly $7 million to expand its operations and create 40 jobs. The company produces drive products including gears and timing belts.
January 21, 2015
LaPorte, Ind. — B&B Manufacturing, a producer of custom and standard synchronous drive products including timing belt pulleys, roller chain sprockets and related parts announced plans to expand its operations in the City of La Porte retaining 74 employees and creating 40 new jobs in the State of Indiana.
“The City of La Porte is proud that B&B Manufacturing decided to expand its operations in our community. We look forward to growing the strong partnership that exists between the company and this community in the years to come,” said Mayor Blair Milo. The company has been in operation for over ten years and continues to experience strong growth in the market.
B&B Manufacturing will invest $6.85 million to construct and equip an 80,000 sq. ft. facility on its 52 acre site located in East Gate Industrial Park. The site was chosen from a myriad of other sites both inState and across the Midwest. “B&B Manufacturing was very pleased that many states and local governments desired to make us a part of their communities. That being said, there was a strong desire to remain in La Porte, and the State of Indiana, and the work of Mayor Milo, the Greater La Porte Economic Development Corporation (GLEDC) and the Indiana Economic Development Corporation (IEDC) made this possible,” said Bob Hamilton President of B&B Manufacturing.
One of the major factors that influenced the site selection was the presence of the Urban Enterprise Zone (UEZ) in La Porte. The company has utilized the programs at their current location and searched for a site that could accommodate. While their new site is not currently located in the Zone the Urban Enterprise Association has petitioned the IEDC to grant a geographic expansion to encompass this parcel.
Mike Riehle, President of the La Porte Urban Enterprise Association said, “B&B Manufacturing has been a major supporter of the La Porte UEZ and the Board felt strongly about continuing to support their growth here in La Porte. It is our hope that the IEDC will grant our expansion and we will continue to be able to land projects such as this.”
“With our low tax rates, pro-growth policies and outstanding location, Indiana continues to focus on building a healthy and sustainable business environment so companies can succeed,” said Eric Doden, president of the Indiana Economic Development Corporation. “The Hoosier State is proud that B&B Manufacturing has chosen Indiana as a fixture in its long-term business plans, and we look forward to watching them continue to grow in the years to come.”
The La Porte City Council approved both real and personal property tax abatement as an alternative to the UEZ incentives on the project. The Indiana Economic Development Corporation offered the company up to $200,000 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.
Source: Greater LaPorte Economic Development Corp.