JEFFERSONVILLE, Ind. (Nov. 6, 2017) — One Southern Indiana has announced representatives from Cylicron will appear this evening before the Jeffersonville City Council and outline their proposed plan for the creation of a new company called qubeworX. Company leaders are considering a 24,000-s.f. building, located within the Port of Indiana-Jeffersonville at 5171 Maritime Road to house its new venture.
QubeworX will manufacture electrical panels to be supplied to a wide variety of customers. The company will launch with approximately 15 employees with plans to increase to as many as 20 jobs over the next five years.
Frank J. Atkins, president and COO of Cylicron, LLC, is hopeful the company will be able to locate in Clark County, Ind. “QubeworX is a new venture and we would like to mitigate as much risk as possible during this process. Cylicron has received great support from the residents and City of Jeffersonville and One Southern Indiana, and I’d like qubeworX to benefit from that support as well.”
The company is requesting a tax abatement for its qualifying capital investment. The company plans to invest $1.5 million in the project through 2021. If approved, the tax abatement will allow the company to phase-in personal property taxes associated with this project.
“On behalf of the City of Jeffersonville, I want to congratulate qubeworX on its new venture and thank them for considering Jeffersonville as an ideal place to grow this endeavor,” said Mayor Mike Moore. “Jeffersonville places a high priority on the business community and actively works to attract, retain and grow commerce by offering favorable tax incentives and an excellent environment of services and support. We are pleased company representatives have seen the advantages of being in Jeffersonville and, with council approval, the city will be ready to assist them.”
With assistance from 1si, the Indiana Economic Development Corporation (IEDC) offered qubeworX up to $100,000 in conditional tax credits and up to $60,000 in training grants based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
“Indiana is home to the highest concentration of manufacturing jobs in the nation, and all across the state, companies like qubeworX are making our state a great place to live and work,” said Elaine Bedel, president of the IEDC. “We are proud to offer a predictable, pro-growth business climate that allows companies like qubeworX the support needed to locate and expand in Indiana, creating quality jobs for Hoosiers.”
Wendy Dant Chesser, president and CEO of 1si, said, “One Southern Indiana is proud that qubeworX, like its sister company, Cylicron, has expressed a desire to be located at the Port of Indiana-Jeffersonville and employ up to 20 workers in Southern Indiana. At a time when Southern Indiana is experiencing increased interest from companies, both nationally and internationally, it is rewarding to know that companies that know our region’s potential still feel we are the best option for new ventures. We congratulate qubeworX on their launch and look forward to helping them attain their goals in the future.”