Wire and Cable Startup to Set Up Shop in Argos
ARGOS - A startup wire and cable company has announced plans to launch operations in Marshall County. The Indiana Economic Development Corp. says Sequel Wire and Cable LLC will invest $53 million to purchase and equip the 50,000-square-foot Argos Manufacturing Center and create 120 jobs by the end of 2024. The company plans to more than the triple the size of the facility and begin operations early next year.
The $2.7 million Argos Manufacturing Center was built in part with funding from the state's Regional Cities Initiative. The facility will house manufacturing equipment to produce Sequel's insulated copper wire.
The company says it will also focus on using new technologies to increase efficiency at the plant, such as solar and rain collecting methods.
"We appreciate the support shown by Indiana Economic Development Corporation, the town of Argos, Marshall County Economic Development Corporation and the Argos Economic Development Commission as we have put together our plans to make this investment," Sequel co-founder James Merritt said in a news release. "Sequel looks forward to becoming part of the Argos community and being able to give back to the community that has helped to make this business a reality."
Sequel says it plans to begin building its team early next year. The company plans to hire 26 employees by the end of 2020 and adding another 94 over the next few years. Those interested in applying for jobs can click here to request more information.
"When sophisticated operations like Sequel Wire and Cable make major investments, in this case in Argos and Marshall County, it makes a big difference to everyone who lives and wants to work here," said Jerry Chavez, chief executive officer of the Marshall County Economic Development Corp. "We’re grateful to Sequel Wire and Cable. And when I say that, I speak for leaders who are intent on growth by creating the business-friendly environment that attracted Sequel to choose Marshall County to live, work and play."
The IEDC has offered Sequel up to nearly $1.5 million in conditional tax credits, which the company will not be eligible to claim until Hoosier workers are hired for the new jobs. The town of Argos is providing additional incentives as well.