Ohio-based Fort Recovery Industries Inc. is planning to start a new manufacturing plant in Portland, IN, according to information released by the Indiana Economic Development Corp., a state agency that coordinates business development. The plan calls for the producer of aluminum and zinc diecastings to invest about $4.5 million to purchase a 50,000-ft 2 plant and install the production equipment.
"Through the efforts of the entire Fort Recovery Industries team our business has grown," stated chief operating officer Dean Jetter. "We are grateful for growth with our existing customers and new business with new customers. We are adding additional capacity to supply our customers' needs."
The plant will produce and warehouse aluminum diecastings for automotive and office furniture manufacturers. The project will begin soon, and Fort Recovery Industries reportedly will begin hiring workers for manufacturing and warehousing positions once the plant facility is rehabbed, early next year. Jetter said the choice of the Indiana site for its new plant was based on a number of factors, including incentives from the state and local authorities, and called Indiana “a good environment in which to have a manufacturing operation.”
According to the IEDC, it offered Fort Recovery Industries up to $275,000 in performance-based tax credits linked to the number of jobs the diecaster creates at the Portland plant. The company is expected to establish as many as 40 jobs at the site by 2013.
Also, the city of Portland has preliminarily approved property tax abatement for the plant.
Fort Recovery Industries produces aluminum and zinc diecastings, and also offers machining, finishing, assembly, engineering, tooling, and logistics services. Its customers include manufacturers of appliances, automobiles, commercial refrigeration systems, office furniture and builders hardware
"Through the efforts of the entire Fort Recovery Industries team our business has grown," said Dean Jetter, chief operating officer, Fort Recovery Industries. "We are grateful for growth with our existing customers and new business with new customers. We are adding additional capacity to supply our customers' needs. The spec building in the Industrial Park in Portland is a good choice for us for a number of reasons including the support we received from Portland, Jay County and the state of Indiana which all provide a good environment in which to have a manufacturing operation."