OMCO, a manufacturer specializing in steel metal forming for the transportation industry, announced plans today to expand its operations here, creating up to 40 new jobs by 2016.
The Wickliffe, Ohio-based company will invest $6.7 million to renovate and equip its existing 85,000 square-foot facility in Pierceton, adding an additional 42,000 square-feet of functional manufacturing space by mid-2014. The expansion will allow OMCO to increase manufacturing capacity for its diversified customer base.
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The Indiana Economic Development Corporation offered OMCO up to $325,000 in conditional tax credits 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 Pierceton approved additional tax abatement at the request of the Kosciusko Economic Development Corporation.
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