IN: Aerodyn Engineering to Invest $8.5M to Expand by 15,000 Sq Ft
19 Jun, 2015
Indiana Secretary of Commerce Victor Smith joined executives from Aerodyn Engineering, Inc. at the 2015 International Paris Air Show as the company announced plans to expand its operations in Indiana.
“Today’s announcement comes on the heels of recent expansion plans from top Hoosier companies in aviation and aerospace,” said Smith. “With low taxes, low regulations and a highly-skilled workforce supported by top universities including Purdue and Notre Dame, companies like Aerodyn, GE Aviation, Raytheon and Alcoa can be assured that Indiana provides an ideal business climate for growth, allowing innovation to take flight.”
The homegrown-Hoosier company, which designs and fabricates aerospace components, will invest $8.5 million to expand its existing 34,000-square-foot facility at 1919 S. Girls School Rd. in Indianapolis by 15,000 square feet. Aerodyn Engineering will also purchase new equipment for the space in order to double its production capacity and create up to 15 new jobs by the end of 2018. Construction is expected to begin late this year.
The company, which also operates a testing center in Whitestown, Indiana, currently employs 83 Hoosiers and will begin hiring for engineering and technical positions this fall. Interested applicants may visit www.aerodyneng.com/about-us/career-opportunities to apply.
“Aerodyn is very pleased to announce this major expansion to our manufacturing capabilities,” said David Lawrence, president of Aerodyn Engineering. “Indiana has been very supportive at the state and local level in helping us grow and we are excited to offer these new capabilities to our worldwide customers.”
Founded in Indianapolis in 2002, Aerodyn Engineering specializes in gas turbine instrumentation and field testing for the aviation and aerospace sectors. Its products, which include precision slip rings, instrumentation accessories and cooling systems, are used by customers like GE and Rolls-Royce across the world. The company also operates Aerodyn Limited in the United Kingdom.
The Indiana Economic Development Corporation offered Aerodyn Engineering, Inc. up to $115,000 in conditional tax credits and up to $25,000 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 city of Indianapolis will consider additional incentives at the request of Develop Indy, a business unit of the Indy Chamber.
"I am thrilled that Aerodyn has selected Indianapolis as the expansion site for their successful operation," said Indianapolis Mayor Greg Ballard. "More and more companies are recognizing our city as an ideal place to launch a new business or grow an existing company, and that's due in large part to our talented workforce."
Since 2002, Indiana exports for the aircraft and spacecraft industries have expanded at an average rate of nearly 30 percent annually. In April, Purdue University announced plans to launch a nearly 1,000-acre Purdue Research Park Aerospace District in West Lafayette, and in March, Raytheon announced expansion plans at its Indianapolis facility, creating up to 250 new Hoosier jobs. Last year, GE Aviation announced plans to build a $100 million jet engine facility in Lafayette, projecting to create 200 new jobs.
This is the second consecutive year an Indiana delegation has attended the air show, which alternates between Paris and London. In 2014, Governor Mike Pence led a jobs and economic development mission to the United Kingdom and attended the Farnborough International Airshow, debuting the state’s first booth at the show, which is one of the largest worldwide exhibitions dedicated to the aviation industry.
About Aerodyn Engineering
Aerodyn Engineering Inc. (AEI) provides unparalleled customer services and support to aerospace, power generation, automotive and industrial customers with high-quality instrumentation, test services, and analysis that is ISO-9001:2008 registered. We are dedicated to exceeding our customer’s expectations for response and quality. For more information about AEI, visit www.aerodyneng.com.
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, focusing on helping companies grow in and locate to the state. Governed by a 12-member board chaired by Governor Mike Pence, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.