A supplier for the marine, RV and specialty vehicle markets is setting up shop in Bourbon, with plans to add nearly 200 jobs in the next year. Indiana Composites, LLC is moving into the Reynold’s Building on Center Street. Officials plan to invest about $3 million in new machinery and an additional $790,000 in renovations.
CEO Mike Peters says the state-of-the-art facility will offer closed-molding fiberglass production shop with open molding capability to produce consistent, high-quality parts in an efficient setting.
Peters describes the 75,000 square foot building as a “blank canvas” on which Indiana Composites can create a facility to meet its present and future needs.
He says equipment will be added in phases, starting this week. Production is scheduled to begin next week. Longer-term plans call for the addition of a mold shop in 2017. When it’s up and running, Peters says customers will be able to come in and work with the design team on a 3-D model of whatever component they need before it goes into production.
The state offered Indiana Composites up to $1 million in conditional tax credits and up to $40,000 in training grants based on their job creation plans. The tax credits are performance based, which means they are not eligible to claim them until workers are hired. The Town of Bourbon is also considering incentives at the request of Marshall County Economic Development Director Jerry Chavez.
Indiana Composites is looking for fiberglass technicians, drivers, administrative and quality staff. Contact Steve Howard at 574-529-1508 to apply.
