A Minnesota-based industrial and construction supplier is planning to expand its Indiana distribution center. Fastenal Co. (Nasdaq: FAST) is seeking tax abatement on the project, which could lead to the creation of 60 jobs and the retention of 200 positions at the Indianapolis operation. The Metropolitan Development Commission is scheduled to hear the proposal this week.
The company is proposing an $8 million expansion and wants to invest another $3 million to install a state-of-the-art logistics system.
Fastenal has 14 centers in North America, but this is its only distribution operation in Indiana.
Source: Metropolitan Development Commission