...
RACO, a division of Hubbell Inc., plans to invest $1.5 million to lease and equip 100,000 square feet in the Ameriplex complex located near Cleveland Road and the St. Joseph Valley Parkway. The location will serve as the company's primary warehouse for all of its products.
"We reviewed a lot of financial elements -- everything from utility rates to tax rates to freight rates to access to customers," said Chris Hildebrand, vice president and general manager of RACO.
"When we looked at all that, South Bend -- and the state of Indiana -- was the best place to be for us."
The company plans to have the shell of the building up before winter, so that it is ready for operations in the second quarter of 2013.
RACO, a steel electrical junction box manufacturer, has offices throughout North America, Europe and Asia and employees at 14,000 globally -- about 220 of those are in South Bend.
The company expects to add between 60 and 80 new employees to that number by 2015.
The Indiana Economic Development Corp. offered RACO up to $600,000 in conditional tax credits and up to $50,000 in training grants based on the company's job creation plans.
None of the incentives can be claimed until Hoosiers are hired.
The city of South Bend approved an additional property tax abatement.
"We reviewed a lot of financial elements -- everything from utility rates to tax rates to freight rates to access to customers," said Chris Hildebrand, vice president and general manager of RACO.
"When we looked at all that, South Bend -- and the state of Indiana -- was the best place to be for us."
The company plans to have the shell of the building up before winter, so that it is ready for operations in the second quarter of 2013.
RACO, a steel electrical junction box manufacturer, has offices throughout North America, Europe and Asia and employees at 14,000 globally -- about 220 of those are in South Bend.
The company expects to add between 60 and 80 new employees to that number by 2015.
The Indiana Economic Development Corp. offered RACO up to $600,000 in conditional tax credits and up to $50,000 in training grants based on the company's job creation plans.
None of the incentives can be claimed until Hoosiers are hired.
The city of South Bend approved an additional property tax abatement.
...
