An Indianapolis-based manufacturer, Saran Industries, has announced plans to establish operations in Kokomo and create up to 60 jobs.
The company will lease and renovate a 250,000 square-foot, vacant factory complex that was once home to Indalex, an aluminum products manufacturer. Saran Industries will invest more than $4.4 million to renovate the facility and install new manufacturing equipment in Kokomo by 2016.
The manufacturing complex has been vacant since the factory closed in 2008.
“The City of Kokomo has been working with Saran on this investment for several months,” said Kokomo Mayor Greg Goodnight. “There were other Midwestern cities that were in contact with the company. In the end, Kokomo’s skilled workforce, existing infrastructure and proximity to the company’s customer-base could not be matched. This is an exciting jobs announcement for our community, and is another sign of our strong economic growth.”
Saran Industries is a provider of industrial finishing and custom processing of forgings, casting and machined parts for industrial manufacturers.
“Adding a manufacturing facility in Kokomo enables Saran to better serve our industrial manufacturing customers in Indiana and Michigan,” said Nick Saran, Vice President of Saran Industries. “We are confident in our Kokomo investment and the performance capabilities of the local workforce.”
Saran Industries was founded in 1964. The company is headquartered in Indianapolis and has a manufacturing facility in Shelbyville.
The Indiana Economic Development Corporation offered Saran Industries, LLC up to $500,000 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 Greater Kokomo Economic Development Alliance helped facilitate state incentives for the project.
Job seekers should visit www.saranindustries.com/jobs for more information.