A plastics manufacturer has announced plans to invest $2.3 million to establish a new production facility in Washington County. Tian Yuan, a joint venture with New Albany-based Shaw Brothers Co. Inc., says the plant will create up to 35 jobs by 2021. The Indiana Economic Development Corp. says the facility will be used to produce plastic resin used for the process of mixing raw plastic materials.
The company will lease and equip the 27,500-square-foot manufacturing facility in Salem, which will begin production this month. Shaw Brothers says the plant will help meet growing demand from domestic and international customers.
"Tian Yuan and Shaw Brothers are very pleased to be making this investment in Salem," said Denise Hsiao, general manager for Shaw Brothers. "We look forward to growing our business and continuing to be a strong corporate citizen. We appreciate the assistance of the state of Indiana and the city of Salem for their willingness to work with us as well as providing a very warm welcome."
Shaw Brothers is an industry broker of plastic scrap and resins and established Tian Yuan as a joint venture to complement its recycling division. Tian Yuan has already begun hiring for sorting staff, production workers, material handlers, and other positions.
The IEDC has offered Tian Yuan up to $140,000 in conditional tax credits and up to $20,000 in training grants, which the company will not be eligible to claim until Hoosiers are hired. The city of Salem plans to offer additional incentives.