Koester Metals, Inc. (KMI), a manufacturer of sheet metal fabrications and enclosures, announced plans today to relocate its headquarters from Defiance, Ohio to here, creating up to 44 new jobs by 2018.
“KMI is the latest company to look across the border and take notice of Indiana's business-friendly climate,” said Eric Doden, president of the Indiana Economic Development Corporation. “Our fiscal stability, robust infrastructure and strong workforce have made the Hoosier State the best place to do business in the Midwest.”
The company will invest $2.7 million to move its headquarters and operations to its existing 130,000 square-foot facility in Fremont. KMI also plans to relocate fabricating equipment from Ohio and update the Steuben County facility's software and technology. The company, which currently employs 16 Hoosiers in Fremont, plans to begin hiring additional welders, laser operators and brake press operators in April.
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The Indiana Economic Development Corporation offered Koester Metals, Inc. up to $240,000 in conditional tax credits and up to $50,000 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. The town of Fremont will consider additional tax abatement at the request of the Steuben County Economic Development Corporation.
