IN: MonoSol to Add $72M Facility, Create 89 High-Wage Boone County Jobs
6 Mar, 2018
MonoSol, a global manufacturer of water-soluble films, announced plans to expand its operations in Indiana, establishing a new, high-tech production facility in Boone County, which will house up to 89 new, high-wage positions when fully operational by the end of 2020.
"Here in Indiana, we've earned an international reputation as one of the best places to do business, offering global companies like Monosol a pro-growth climate and a skilled workforce," Gov. Eric J. Holcomb said. "As a state, we’ll remain focused on strengthening our economy to attract new investments, promote growth and make Indiana a jobs magnet.”
MonoSol, which is a division of Japan-based Kuraray, will invest $72 million to construct a 150,000-square-foot manufacturing facility at 155 S. Mount Zion Road in Lebanon. The new facility will increase MonoSol's production by 18 percent, allowing the company to meet growing demand for its innovative packaging solutions while increasing operational efficiency and material flow. It will be the company's fifth Indiana-based operations center, supplementing its headquarters in Merrillville and its manufacturing sites in LaPorte, Portage and Duneland. Construction is expected to begin in the second quarter of 2018 and be completed in early 2020.
MonoSol currently employs 600 associates around the world, including 500 full-time employees in Indiana. The company expects to begin hiring for production, warehouse, clerical, technical and manager positions in mid-to-late 2019 and plans to be fully operational in mid-to-late 2020.
“MonoSol was founded in Portage in 1953, and northwest Indiana has served as an outstanding location to build and grow a global business,” said P. Scott Bening, president and chief executive officer for MonoSol. “Building this new facility in central Indiana further strengthens our business continuity plan through geographic diversity and enhances our proximity to key global customers. We look forward to opening our fifth operations facility in the state and continuing our strong legacy of community involvement.”
The company's water-soluble film technology offers its customers exact dosage, easier handling, greater convenience, safety and sustainability. MonoSol’s growing portfolio of applications includes products like detergents, ag chem, personal care products, food manufacturing, water treatment, transfer printing, countertops, solid surfaces and composite molding.
The Indiana Economic Development Corporation offered MonoSol LLC up to $1,200,000 in conditional tax credits based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Lebanon approved additional incentives at the request of the Boone County Economic Development Corporation.
“We are pleased that MonoSol has chosen to locate their first central Indiana facility in Lebanon,” said Lebanon Mayor Matt Gentry. “MonoSol was recently recognized amongst the nation’s best and brightest companies to work for, and I am confident that the business-friendly environment in the Lebanon Business Park will foster their continued success.”
MonoSol is one of more than 280 Japanese business establishments in Indiana that employ more than 58,000 Hoosiers. Among all U.S. states, Indiana has the largest amount of Japanese investment per capita. Last year, 40 foreign-based companies committed to locating or growing in Indiana, planning to create 5,607 new jobs for Hoosiers.
MonoSol’s water-soluble delivery systems have revolutionized detergent and cleaning industries all over the world. Its growing portfolio of applications includes detergents, agro-chemical packaging, solid surface and composite release films and embroidery, as well personal care products, food ingredients, water treatment chemicals, transfer printing and more. Through its collaborative mindset, global manufacturing footprint, high-quality products and scientific expertise, MonoSol partners with customers to create innovative product packaging solutions that enhance everyday life. Founded in 1953, MonoSol is a division of Kuraray, one of the world’s leading specialty chemical companies, and is based in Merrillville, Indiana. Visit www.monosol.comfor more information.
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.