Connect With Us

Inside INdiana Business
Subscribe Now Log In
  • Home
  • News
    • Education
    • Health
    • Tech
    • STEM
    • Advanced Manufacturing & Logistics
    • Life Sciences
    • Ag INnovation
    • INPower
  • Videos
  • Big Wigs
    • Submit Big Wigs
  • Events
    • Engage Southwest Indiana – Evansville
    • Engage Northwest Indiana – Valparaiso
    • Engage Greater Lafayette – West Lafayette
    • Engage West Central Indiana – Terre Haute
    • Engage South Bend – Elkhart
    • Engage Northeast Indiana – Fort Wayne
    • Engage Central Indiana – Indianapolis
  • Newsletters
  • Podcasts
  • On-Air
    • TV & Radio Listings
  • Contact
    • About IIB
    • Meet the Team
    • Contact Us
    • Advertise
    • Gift Cards
    • Flagship Stations
    • Gerry’s Message
    • Speaking Engagement Request

Connect With Us

Stainless Steel Processor to Set Up HQ in Muncie

Monday, May 18, 2020 09:05 AM EDT
By Alex Brown
Stainless Steel Processor to Set Up HQ in Muncie (photo courtesy of INOX Market Service)

An Italian stainless steel processing company has announced plans to establish operations in Delaware County. The Indiana Economic Development Corp. says INOX Market Service will invest more than $15 million to build its North American headquarters in Muncie and create up to 101 jobs by the end of 2024.

The company plans to build and equip a nearly 140,000-square-foot facility, which it says will allow for the expansion of its stainless steel slitting and forming operations.

Construction on the facility is expected to begin this summer with production starting in the spring of 2021. The company plans to reach full operational capacity by 2022.

“We looked at multiple locations within the U.S., and after meeting with state and Delaware County officials, we quickly recognized that their organization and personalized support exceeded that of many other states,” said Federico Sbettega, owner and INOX Board of Directors member. “We want to be part of a welcoming community like Delaware County, and we find tremendous value in the state and community investing in their futures; and that is exactly what we saw from the leaders in Indiana.” 

INOX employs some 400 workers throughout the world and plans to begin hiring for steel production jobs in spring 2021.

The IEDC says it will offer INOX up to nearly $1.2 million in conditional tax credits, which the company will not be eligible to claim until Hoosier workers are hired for the new jobs. The Delaware County Commissioners will consider additional incentives.

Story Continues Below

Most Popular Stories

Perspectives

Performance management plays a key role in employee engagement

Performance management plays a key role in employee engagement

Employee engagement is a catchall term that refers to the degree to which employees are committed to their work and their organization. We all know that engaged employees are more productive, more creative, and more likely to stay with their organization. So, how does performance management impact employee engagement?...

Inside INdiana Business

Inside INdiana Business
A division of IBJ Media

1 Monument Circle, Suite 300
Indianapolis, IN 46204

PHONE: (317) 634-6200

FAX: (317) 263-5060

NEWSLETTER@IIBNEWS.COM

  • Home
  • News
  • Videos
  • Gerry Dick
  • Newsletters
  • On-Air
  • Contact

Copyright © 2023 All Rights Reserved Privacy Policy | Terms of Service