Kentucky-based Tempur Sealy International Inc. (NYSE: TPX) has announced plans to establish its fourth foam pouring manufacturing facility in Montgomery County. The bedding products manufacturer says it will invest more than $138 million to build and equip a 700,000-square-foot facility in Crawfordsville and create about 300 jobs by the end of 2025. The company says the facility will enhance its ability to service customers in the northeast United States.
Construction on the plant is slated to begin this fall. Tempur Sealy says the facility, which will manufacture a variety of bedding products and components, will have room for further expansion up to 1 million square feet.
“After a thorough site search and evaluation process, we have identified Crawfordsville, Indiana, as the ideal location for our new operations,” Scott Thompson, chairman and chief executive officer of Tempur Sealy, said in a news release. “We selected this location based on the robust business climate fostered by the state and local government, the quality of life the city of Crawfordsville provides its citizens and the property’s access to major transportation routes.”
Tempur Sealy employs some 8,000 workers around the world. The company plans to begin hiring for management, supervisory, administrative and staff positions later this year.
The facility, which will sit on 130 acres in Crawfordsville, is expected to begin production in 2023.
“We’re thrilled Tempur Sealy International has selected Montgomery County as the destination for its state-of-the-art foam pouring facility,” said John Frey, president of Montgomery County Commissioners. “We’ve worked hard to build an infrastructure foundation to support industrial growth, and Tempur’s location decision is proof that we are on the right path.
The Indiana Economic Development Corp. plans to offer Tempur Sealy up to $2.5 million in conditional tax credits, which the company will not be eligible to claim until Hoosier workers are hired for the new jobs. Additionally, the IEDC will offer up to $1.1 million in Hoosier Business Investment tax credits based on the company’s planned capital investment and up to $450,000 to the local community to support infrastructure improvements.
The incentives must still be approved by the IEDC Board of Directors. Montgomery County will consider additional incentives.