Will add 82 new positions in New Albany
NEW ALBANY, Ind. (Aug. 22, 2014) — One Southern Indiana today announced three New Albany companies, Advance Fabricators Incorporated, Bruce Fox, Inc. and L&D Mail Masters, Inc. will appear in front of the New Albany City Council this evening to request property tax abatements as company leaders consider expansion opportunities.
Advance Fabricators, Inc., established in 1976, is a full-service engineering, fabrication, machining and field service company. Upon the approval of the tax abatement request, Advance Fabricators, Inc. plans to construct a new 6,000 sq. ft. steel building addition which will allow for eight new fabrication stations. Upgrades and a new security system will also be installed both in the new space and the current facility.
The proposed expansion / retention project would include a capital investment of approximately $2.1 million and would result in the creation of approximately 20 new full-time positions. This comes on top of the 25 existing jobs that will be retained, representing a total annual payroll of over $1,650,000.
Also seeking abatements from the City of New Albany, is Bruce Fox, a manufacturer of custom recognition and brand building products. The homegrown Hoosier company will invest over $1,200,000 to renovate and equip its 30,000 square-foot facility at 5300 Foundation Boulevard as well as their location on McDonald Lane in New Albany over a five year period. With these renovations, the company will be able to produce a brand new product line and continue to grow its customer base. Should the abatement be granted, Bruce Fox anticipates adding 27 new positions by 2018 to the current 97 employees they now have, which will represent a new annual payroll of $972,504.
The Indiana Economic Development Corporation offered Fox Group, Inc. up to $200,000 and Advanced Fabricators up to $50,000 in training grants based on the companies’ job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
Additionally, L&D Mail Masters, Inc. is seeking a personal property tax abatement for an investment in equipment that will allow the company to expand services and bid on larger projects. The purchase will be an outlay of over $2.1 million and will provide work for eight additional employees, adding over $216,000 in annual payroll. This follows the company’s investment of over $680,000 and two new hires in 2013. L&D Mail Masters currently employs 101 individuals at its location on Security Parkway in New Albany.
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