IN: Crystal Etching Company Carving Out New Spot in Indianapolis
27 Jun, 2011
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St. Regis USA Inc., a manufacturer of hand-etched and hand-painted glass and crystal products, recently announced an expansion at its new Indianapolis facility with plans to create up to 41 new jobs by 2014.
The company, which produces glass and crystal awards, beverage-ware, trophies and desk accessories, plans to invest more than $4.18 million to purchase and equip a 90,000-square-foot facility on the northeast side of the city.
"The Indianapolis expansion of St. Regis USA is both great news for the city and a sign that the state of Indiana has created a welcoming environment for businesses to grow and operate," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation.
St. Regis International Inc., the parent company of St. Regis USA, currently employs more than 200 workers at its facilities in the United States and Canada and has seen strong growth in its U.S. operations in recent years. The company has already begun hiring new production associates for its planned expansion.
"Logistically, Indianapolis provides us with an ideal shipping location to handle not only the lucrative Northeast market, but also reasonable shipping times and costs to the Southwest and West Coast," said Richard Firkser, president and chief executive officer of St. Regis International, Inc.
Founded in 1999 and headquartered in Ontario, Canada, St. Regis International also controls the crystal decorating and distribution company Etching Industries Corporation.
The Indiana Economic Development Corporation offered St. Regis Crystal up to $200,000 in performance-based tax credits and up to $35,000 in training grants based on the company's job creation plans. The city of Indianapolis granted additional property tax abatement at the request of Develop Indy.
"The decision by St. Regis to expand its Indianapolis operation is indicative of the benefits Indianapolis offers businesses. Our lows costs and quality workforce continue to make us a choice location for growing companies," said Indianapolis Mayor Greg Ballard.
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.