An oil well servicing company has announced plans to move its headquarters from Illinois to Vincennes. Franklin Well Services Inc. says the move will result in more than 90 high-wage jobs by 2018. The company will move its headquarters to a former department store in downtown Vincennes. Franklin says it has already begun transitioning employees and equipment from Illinois to Indiana. It hopes to complete construction by the end of the summer.
The new headquarters will house Franklin's executive management, sales, accounting, legal and human resources departments. The company provides well stimulation, cementing, and drilling services in Indiana, Illinois and Kentucky.
The Indiana Economic Development Corp. says average hourly wages for the new jobs are expected to be more than two times the Knox County average.
The move marks the latest Illinois company to move operations to Indiana. In February, American Stair Corp. Inc. announced plans to relocate its headquarters from Romeoville, Illinois to Hammond. The steel stair and railing manufacturer says the move involves a nearly $3 million investment and the creation of up to 180 jobs by 2018.