New equipment led to an injection of new jobs at a Springville plastics manufacturer.
PRD, Inc. has hired 23 people in the last 12 months, bringing the company’s total number of employees to 134, according to its president, John Passanisi.
The hiring came as PRD added new manufacturing
equipment. The company has purchased 13 new pieces of equipment. PRD is a custom injection molder of plastics that uses specifications to create products for customers.
equipment. The company has purchased 13 new pieces of equipment. PRD is a custom injection molder of plastics that uses specifications to create products for customers.
“We are investing in new equipment, also new technology,” Passanisi said. “We actually hired people to operate it.”
,” Passanisi said. “We actually hired people to operate it.”
PRD plans to bring in three more pieces of equipment for installation in August or September. They will be replacement pieces that take the place of older technology. Those pieces, along with the 13 units that are already in place, are part of a $3 million investment the company said it would make by 2015. PRD is paying for its investment using a funding mix that includes its own cash and equipment manufacturer financing.
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PRD has a tax abatement from Lawrence County, and the Indiana Economic Development Corp. has put training grants totaling up to $40,000 on the table for the firm. The grants were structured so they could not be claimed until hiring took place.
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