Manufacturer Plans New HQ in New Albany
New Albany-based Progressive Materials is looking to expand its southern Indiana operation. The Indiana Economic Development Corp. says the silicone roofing systems manufacturer plans to invest $13.4 million to build a new headquarters in the city, creating up to 25 jobs by 2023.
The company says it has outgrown its current headquarters and the new, 100,000-square-foot corporate campus at the New Albany North Industrial Park is expected to be operational by December 2019. The IEDC says the new complex will house the company’s manufacturing operations, warehouse space, distribution center, sales and marketing offices, and quality control laboratories.
Progressive Materials says the expansion will help enhance its customer base and complement its rapid sales growth.
"The move to a fully-automated, state-of-the-art facility is a huge step for our company, and everyone from the state of Indiana, city of New Albany and One Southern Indiana have been incredibly helpful throughout the process," said Sean Stumler, president of Progressive Materials. "We appreciate all the work and support that has gone into making our proposed expansion a success, and we look forward to continuing our winning strategy here in southern Indiana."
Progressive Materials, which was founded in 2011, currently employs 16 in Indiana and plans to begin hiring next year for electrical and operator technicians, silicone-specialized chemists and administrative associates. The new positions are expected to offer salaries above the county and state average wage.
The Indiana Economic Development Corp. is offering up to $240,000 in conditional tax credits, which the company will not be eligible to claim until Hoosier workers are hired. The New Albany City Council will next week consider additional tax incentives for the project.