From the Indianapolis Business Journal:
An Illinois-based manufacturer expects to move its headquarters a short drive to the east, settling across state lines in Munster with plans to hire more than 100 workers and invest $7 million in new equipment and building improvements.
Tec Air Inc., a designer and manufacturer of fan components and systems, plans to transfer its current workforce of about 150 employees to its new headquarters at the Lake Business Center in Munster, according to state officials. It currently is located about 30 miles away in Willow Springs, Ill.
“We looked at multiple locations for our expansion and chose Indiana for several reasons,” said Bob McMurtry, president of Tec Air. “Outgrowing our current location and Indiana’s pro-business environment solidified our decision to not only expand into Indiana but to relocate our entire operation from Illinois.”
The 48-year-old company plans to lease a 128,000-square-foot facility at the business center. In addition to investing about $7 million in new equipment and building improvements, it plans to bring about $8 million in assets from its Illinois facility.
Expected to be complete in the spring, the facility will house corporate offices, engineering labs, quality labs, manufacturing operations, and warehouse and distribution operations. Its new purchases will include injection molding and assembly equipment.
Tec Air expects to have as many as 258 employees by 2016. It plans to begin interviewing and hiring employees early next year.
The Indiana Economic Development Corp. has offered Tec Air up to $2.66 million in conditional tax credits and $190,000 in training grants, based on its capital investment plans. The tax credits are performance-based, meaning that Air Tec cannot claim them until investments are made in the state.
Munster officials offered additional incentives.
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http://www.ibj.com/illinois-manufacturer-to-move-headquarters-to-indiana/PARAMS/article/44193
