Ag Expansion Brings 'Huge Win' to Shelbyville
Indiana's ag sector is marking another win. Krone North America has announced plans to move its headquarters from Memphis, Tennessee to Shelbyville and create more than 100 high-wage jobs by 2021. The agriculture equipment company says it will invest $12.5 million to build its facility, which will also include a distribution center, showroom and training space. Chief Executive Officer Tommy Jones says the move provides the company "a strong base of knowledgeable workers" and aligns with its North American growth strategy.
Krone's campus will span 40 acres at the intersection of Highway 44 and I-74 in Shelbyville. Construction is expected to begin next spring, and the corporate headquarters team is expected to begin transitioning to Indiana in 2017. The IEDC has offered Krone up to $1.8 million in conditional tax credits based on the job creation plans. The organization says it will also provide the city of Shelbyville of up to $500,000 in infrastructure assistance.
The company plans to begin hiring next year for positions including warehouse and office staff as well as management. The exact number of positions available will depend on how many current employees move from Memphis to Indiana. The Indiana Economic Development Corp. says the new positions will offer average salaries nearly double the state's average wage.
Shelbyville Mayor Tom DeBaun calls the announcement a "huge win" for the city and its work force, saying it is the result of two years of work. He says the city's talent pool and previous experience with foreign-led investments helped attract the company. Krone is owned by Germany-based Bernard Krone Holding GmbH & Co. KG.
The announcement continues the recent momentum in Indiana's agriculture industry. Earlier this week, the Newton County Commissioners and Newton County Council approved significant infrastructure support for a $230 million cheese manufacturing facility proposed by Select Milk Producers and Fair Oaks Farms. County Attorney Patrick Ryan tells Inside INdiana Business that the project would include a hotel and dairy-focused learning component and likely create at least 130 jobs with the potential for "significantly more."
Last week, Walmart (NYSE: WMT) announced plans to build a large milk processing plant in Fort Wayne, which it says will be one of the largest in the nation. That project is expected to result in more than 200 jobs by the end of 2017.