Would create 160 new jobs
NEW ALBANY, Ind. (June 1, 2015) — One Southern Indiana announced today that Beach Mold & Tool, Inc., a producer of parts for customers in the medical, business systems and automotive industries, will appear in front of the New Albany City Council this evening to request property tax abatements as company leaders consider expansion plans here.
If the tax abatement request is approved and the company obtains the necessary zoning approvals, Beach Mold & Tool, Inc. plans to construct a new warehouse of approximately 140,000-s.f., which will increase manufacturing capacity at its current facility in the New Albany Industrial Park. The company plans to install additional large injection molding presses, along with other equipment required to produce plastic parts and assemblies for new programs slated to start in 2017.
The proposed expansion/retention project would include a capital investment of approximately $23 million and the creation of an estimated 160 new full-time positions through 2019. This would come on top of the 665 existing jobs that would be retained in New Albany.
Beach Mold & Tool, Inc., established in 1972, is a manufacturer in the plastics industry producing injection molded parts and assemblies. The company also has a full service tool shop to serve its customers.
The Indiana Economic Development Corporation has offered the company up to $1,250,000 in Economic Development for a Growing Economy (“EDGE”) conditional tax credits which may be certified over a period not to exceed 10 years. This incentive is performance-based, meaning until Hoosiers are hired, the company is not eligible to claim the incentive.