A Harrison County manufacturer has announced plans to open a second facility in Corydon and create up to 40 jobs by 2018. Fred Smith Store Fixtures Inc. says it will invest $8.5 million in the project.
March 23, 2015
Corydon, Ind. — Fred Smith Store Fixtures Inc. announced plans today to open a second Indiana facility in Corydon, creating up to 40 new jobs by 2018.
“Fred Smith Store Fixtures is a true Indiana success story,” said Eric Doden, president of the Indiana Economic Development Corporation. “Launching in rural Indiana, the company has grown to become an important economic driver for its region. Supported by a business environment and team that works, Fred Smith Store Fixtures’ success today shows that when all the elements come together, Indiana is the perfect state for growth.”
The Depauw, Indiana-based company will invest $8.5 million to lease and equip a 70,000 square-foot facility in the Harrison County Industrial Park, a state-certified shovel ready site. With construction expected to begin this spring, Fred Smith Store Fixtures intends to begin operating in the facility by December, expanding its operational space beyond its current 140,000 square-foot headquarters in Depauw. Serving the office and hospitality industries, the company will begin fully assembling its high and low pressure laminate, veneer tops and melamine surfacing for its customers.
“When we considered building a new facility, two main factors came to mind,” said Steve Smith, chief executive officer of Fred Smith Store Fixtures. “The first is the workforce. Our people are what have gotten us here today, and we knew we wanted to stick with the workforce available in Southern Indiana. The second factor is logistics. Fred Smith Store Fixtures has operated in a rural setting for 51 years. It’s important to improve logistics to better serve our customers. We needed to make sure the two plants could easily work together and building in the Harrison County Industrial Park in Corydon allows us to meet our needs.”
Fred Smith Store Fixtures, which currently employs 140 full-time associates, will begin staffing the new facility later this year. The company plans to hire additional manufacturing personnel, including sawyers, CNC operators, edgebander operators and skilled craftsmen, as well as administrative, maintenance and material handling associates in the coming months. Interested applicants can learn more about positions as they become available at www.fssf.weebly.com/careers.html.
The Indiana Economic Development Corporation offered Fred Smith Store Fixtures Inc. up to $175,000 in conditional tax credits and $50,000 in training grants 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. Harrison County will consider additional incentives at the request of the Harrison County Economic Development Corporation.
“Our county is an ideal community for business growth. Both new and existing businesses find this location, our workforce, and the quality of life to be outstanding,” said Gary Davis, chair of the Harrison County Council. “Smith Store Fixtures has been successful and growing here for decades and now they are making a significant investment to grow their business even more. These new jobs bring great opportunities for the people of Harrison County.”
About Fred Smith Store Fixtures
Since 1963, Fred Smith Store Fixtures Inc. has provided high quality laminate panels and component parts. Fred and Laura Smith built a small shop in the field behind their house and began installing fixtures in a wide variety of locations, including bars, restaurants, banks and libraries. The focus eventually shifted from installation to manufacturing for offices, hotels and stores. What started as a small family-owned business grew into a large manufacturing company focused on providing both high and low pressure laminate parts for industry leaders at a fair price. With fast lead times and high quality, the company has been able to grow while maintaining a team environment focusing on bettering employees within a safe work environment that promotes personal growth. Currently over 140 employees work at the factory located in the southern Indiana town, Depauw.
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 that 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.