Manufacturer Expansion Gains Boost From State
MOUNT VERNON - A planned $80 million expansion in Mount Vernon by a subsidiary of Virginia-based BWX Technologies Inc. (NYSE: BWXT) is getting a boost. The Indiana Economic Development Corp. is offering tax incentives for the project, which is expected to create up to 67 jobs.
BWXT Nuclear Operations Group is planning to make building improvements and add new machinery equipment to support an expected increase in production at the 640,000-square-foot Posey County campus. The facility manufactures heavy components for naval nuclear reactors used in submarines and aircraft carriers, as well as submarine missile tubes.
The IEDC has offered BWXT up to $725,000 in conditional tax credits for the project, which was first announced in mid-September. The company will not be eligible to claim the incentives until Hoosier workers are hired for the new positions.
"With locations across the U.S., BWXT had a world of options for this investment," said Elaine Bedel, president of the IEDC. "Choosing to grow in Mount Vernon signifies that BWXT has confidence in the state's pro-growth business climate, the southwest Indiana community, and most importantly, our skilled Hoosier workforce that will help support increased production and make this expansion possible."
Posey County is also considering additional incentives, though specific numbers were not released.