IN: Orthopedic Manufacturer Expands in Wells County
23 Feb, 2012
Haven Manufacturing Indiana, Inc., a manufacturer of orthopedic instruments, industrial parts and special tooling, announced today that it will grow its operations here, creating up to 70 new jobs by 2014.
The Ossian-based company, which provides services and parts to the medical, furniture, aerospace and transportation industries, plans to invest $2.34 million to renovate and install computer numerical control (CNC) equipment at its current 30,000 square-foot facility at 6935 State Rd. 1.
"Haven Manufacturing Indiana is a great example of the many innovative companies that call Indiana home," said Governor Mitch Daniels. "Thanks to our state's skilled workforce and business friendly climate, Indiana provides a business environment where budding, home-grown companies like Haven Manufacturing Indiana can thrive."
Haven Manufacturing Indiana, which currently has 34 full-time employees in Ossian, has already begun hiring additional equipment operators, CNC programmers and management positions.
"We feel confident that the investment we make in equipment and people will make a positive return for our customers and organization for many years," said Leonard Feddema, president of Haven Manufacturing Indiana. "We are honored and thankful to have had several customers recognize this and begin using us already."
Originally formed as Hower Tool in 1957, the company was established to manufacture special carbide tooling in Ossian. In the resulting decades, the company added orthopedic manufacturing capabilities and currently serves more than 25 customers throughout the U.S., Mexico and Switzerland.
The Indiana Economic Development Corporation offered Haven Manufacturing Indiana, Inc. up to $550,000 in conditional tax credits and up to $45,600 in training grants 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 Wells County Council approved additional property tax abatement.
"We are delighted that Haven Manufacturing Indiana has purchased Hower Tool and welcome them into our community," said Luanne Martin, Ossian Town Manager.
Haven Manufacturing Indiana's announcement comes just over a month after automotive engineering software provider Vehicle Control Solutions announced that it will invest $712,000 to lease and equip new office and lab space in nearby Noble County, creating up to 70 high-wage jobs by 2014.
About Haven Manufacturing Indiana
Haven Manufacturing Indiana is an ISO-13485 and an FDA registered manufacturer of orthopedic instruments, trials, implants, prototypes and customs, as well as industrial parts and special tooling. Haven Manufacturing Indiana works to exacting tolerances in stainless steel, titanium, cobalt chrome, magnesium, brass, bronze, tool steel and a variety of medical grade plastics. For more information about Haven Manufacturing Indiana, visit www.haven-mfg.com.
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.