A Jeffersonville-based manufacturer is proposing to locate its newest venture at the Port of Indiana-Jeffersonville. Cylicron plans to invest $1.5 million to establish qubeworX at the port and add up to 20 jobs by 2021.
The company is considering leasing a 24,000-square-foot building at the port, which would initially house about 15 employees. qubeworX will manufacture electrical panels that would be supplied to a variety of customers.
The Jeffersonville City Council has approved a tax abatement, which the company says would "mitigate as much risk as possible during this process." In a news release Monday, Mayor Mike Moore said "the city will be ready to assist them.”
"On behalf of the City of Jeffersonville, I want to congratulate qubeworX on its new venture and thank them for considering Jeffersonville as an ideal place to grow this endeavor," said Moore. "Jeffersonville places a high priority on the business community and actively works to attract, retain and grow commerce by offering favorable tax incentives and an excellent environment of services and support. We are pleased company representatives have seen the advantages of being in Jeffersonville."
The Indiana Economic Development Corp. has offered qubeworX up to $100,000 in conditional tax credits and up to $60,000 in training grants. The tax credits are performance-based which means the company will not be able to claim them until Indiana residents are hired.