Image via Wikipedia
Molded Foam, LLC, a manufacturer of foam seating and cushioning materials, announced recently that it will acquire a Holland, Mich., firm and relocate its operations to Indiana, creating up to 45 new jobs by 2014.
The company, which provides polyurethane foam cushioning to customers in the defense, medical, office-furniture and transportation industries, among others, plans to invest more than $3.8 million to purchase and equip additional space to house the new operations which will include a new molded production line.
"We take this relocation project as an encouraging sign that we're taking the right steps to make Indiana the most attractive place to run a business," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Job growth is great news for any community, but it's especially gratifying when new investment happens in a smaller community like Bristol."
Molded Foam, LLC, plans to begin hiring additional manufacturing and supervisory associates early this summer as the new production line becomes operational.
"We have been fortunate to improve our position in the market during challenging economic times and believe additional investment at this time will further advance our business for many years to come. It was our preference to bring our new production facility to Bristol if it made economic sense and with the help of the state and the Economic Development Corporation of Elkhart County we will be able to do so," said Tim Dugle, president of Molded Foam LLC. "It is our objective to grow our business, to remain viable and to continue to provide additional jobs for people in our immediate area. We appreciate the efforts of Governor Daniels to make Indiana a business friendly state. Everybody wins when Indiana's government supports the private sector to strengthen communities."
Formerly Goshen Cushion, Inc.'s recreational vehicle and conversion van seating division, Molded Foam, LLC, has been independently owned for more than 15 years. The company has more than 30 years of manufacturing experience in Elkhart County.
The Indiana Economic Development Corporation offered Molded Foam, LLC up to $300,000 in performance-based tax credits based on the company's job creation plans. The town of Bristol has offered additional property tax phase-in at the request of the Economic Development Corporation of Elkhart County.
Molded Foam, LLC's announced expansion of its Bristol operations comes just more than two months after Global Parts Network announced it would invest more than $3.2 million to lease and equip 73,000 square feet of space for production and distribution of heavy duty truck parts in nearby South Bend. The company projects to create up to 30 new jobs by 2014 as part of the project.
About Molded Foam, LLC
Molded Foam, LLC is a manufacturer of polyurethane seating materials for customers in the medical, defense, office furniture and transportation industries. Headquartered in Bristol, Ind. Molded Foam, LLC has more than 30 years of manufacturing experience. For more information visit http://www.moldedfoamproducts.com/index.html.
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. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.