Michigan Steel company expanding into Indiana
The state of Indiana has been working hard to make it known that it wants to house your business in the future. With billboards in New York and Chicago, it appears that word is spreading, as a Michigan company has decided to expand operations into the Hoosier state.
According to a recent article from Inside Indiana Business, Mill Steel Co. — a flat rolled steel service center that is based in Grand Rapids, Michigan — has announced plans to expand its operations into Indiana. The company will invest $16.1 million to purchase and equip a 105,000 square-foot facility in Jeffersonville at Indiana's Port of Indiana Maritime Center. The goal is to renovate the location and double the size to 225,000 square feet.
The facility would be operational in June and will house two sitters in addition to a cut-to-length line. Through 2017, the outfit will create up to 43 new jobs. Currently Mill Steel employees approximately 200 associates.
"Mill Steel and other companies gain an advantage by locating at one of Indiana's three ports," said Victor Smith, Indiana Secretary of Commerce. "The Ports of Indiana helps businesses boost their logistics skills through direct rail-to-barge capabilities, strategically located at the crossroads of America. Companies can transport goods to their clients more efficiently here, making Indiana a state that works."
David Samrick, the chief executive office of Mill Steel, told the news source that he is excited for the opportunity to locate to Jeffersonville. He added the Indiana's centralized location serves as an outstanding complement to the existing locations in Michigan that the company already operates out of. Samrick went on to say that the state of Indiana offers several specific benefits that made it much easier to decide on placing a location there.
"Indiana's right-to-work law, simplified regulatory environment and low-tax rates also make it very attractive for the continued growth of our business," Samrick told the news source. "We felt it was absolutely critical to position ourselves at a location that will enable us to continue our delivery of outstanding just in time services to our growing automotive, construction, appliance and general manufacturing customer base."
According to the article, the Indiana Economic Development Corporation offered Steel up to $300,000 in conditional tax credits and an additional $100,000 in training grants because of the planned job growth if it was to add a location in the state. These credits are performance based, meaning until the company comes through with local hiring, they will not be paid out.
Jeffersonville Mayor Mike Moore told the news source that the city could also offer additional benefits at the request of One Southern Indiana. He added that he is excited about the announcement as it is a testament to the many advantages of doing business in the city and state.
"We are thrilled Mill Steel chose to leverage Jeffersonville's locale to serve its growing market and to establish their future in southern Indiana," Moore said.
For any business that is looking to expand or relocate to Indiana, the help of a business management software provider can help them deploy a solution that can improve operations and efficiency.