Micronutrients, an agribusiness that produces animal feed additives, announced plans to expand its operations in Indiana, establishing a new facility in Henry County and creating up to 50 new jobs by 2020.
"Indiana has a strong tradition in agriculture, and the industry continues to grow today as companies like Micronutrients are utilizing new techniques and technology to provide innovative solutions to farmers and consumers across the globe," said Lt. Governor Suzanne Crouch, who also serves as Indiana Secretary of Agriculture and Rural Development. "Agriculture and agribusiness are vital contributors to the state's economy, providing $31 billion annually toward the state's GDP. We are excited to see companies like Micronutrients choosing to grow here in Indiana, and I am confident that our hardworking Hoosier workforce will help propel their future success."
The company, which was acquired last year by Netherlands-based Nutreco, will invest approximately $30 million to construct a new 164,000-square-foot manufacturing plant and warehouse at 385 E. County Road 400 S. in New Castle. The new facility, which will house mixing tanks, spray dryers and packaging equipment, will allow Micronutrients to increase its production of hydroxy trace minerals. These minerals improve the stability of premix and feed, as well as bioavailability in animals to better facilitate digestion and increased animal performance. Sold under the IntelliBond® brand, the company's minerals are used in every U.S. state and around the world.
Micronutrients, which was established in Indianapolis in 1994, plans to break ground in Henry County in late 2017, allowing the company to continue its current growth and increase its market share globally. The company employs more than 150 full-time associates across its main office and manufacturing plant in Indianapolis and plans to begin hiring in late 2018 prior to launching operations in New Castle by early-to-mid 2019.
"Indiana was originally chosen in 1994 as it was the home base for the overall corporation," said Ted Moore, vice president of operations at Micronutrients. "Continued expansion in Indiana, specifically New Castle, is for an entirely different reason. While there is something to be said for having current operations nearby, the primary reasons for the New Castle location decision were the cooperative nature of the state and local governments and, most importantly, the quality workforce that is available in Indiana."
Founded in 1994, Nutreco is a global leader in animal nutrition and fish feed. Its advanced feed solutions are at the origin of food for millions of consumers worldwide. Quality, innovation and sustainability are guiding principles, embedded in the Nutreco culture from research and raw material procurement to products and services for agriculture and aquaculture. Nutreco’s strategy is to grow and improve profitability by providing innovative and sustainable nutritional solutions for its customers. Nutreco employs approximately 11,000 people in 35 countries with net sales of € 5.7 billion in 2015. Its two global company brands, Skretting (aquafeed) and Trouw Nutrition (animal nutrition), have sales in over 90 countries.
"Henry County is pleased to welcome Micronutrients USA to our community, and we look forward to growing together,” said Butch Baker, president of the Henry County Board of Commissioners. “This project shows agribusiness and food processing is thriving here.”
The Indiana Economic Development Corporation (IEDC) offered Micronutrients USA 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 IEDC will also provide the community with up to $200,000 in infrastructure assistance from the state's Industrial Development Grant Fund. Henry County approved additional incentives at the request of the New Castle-Henry County Economic Development Corporation.
Indiana’s agriculture and agribusiness industry supports more than 107,000 Hoosier jobs and contributes an estimated $31 billion to the state’s economy each year. Henry County recently became home to Boar's Head, which announced plans to establish operations in New Castle in 2014, creating 200 new jobs for Hoosiers.
About IEDC
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 15-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.
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