IN: Global Manufacturer to Expand in Frankfort
13 Oct, 2011
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Lt. Governor Becky Skillman recently joined executives from LEP Special Fasteners Inc., a manufacturer of specialty steel fasteners, to announce the company's plans to relocate parts of its operations from Illinois to here, creating up to 160 new jobs by 2015.
The company, a subsidiary of Italian-based Fontana Fasteners Group, will relocate parts of its management, sales and distribution functions of Fontana America, Inc. and Fontana USA, Inc. from Elgin, Ill. to Frankfort and expand and equip its current facility by 250,000 square feet. This expansion will more than double the existing capacity at the manufacturing plant.
"We're thrilled to have an international company like LEP choose to invest its key operations in Indiana and further establish a home away from home in our state," said Skillman. "Because of our talented workforce and competitive low-tax policies, we're able to bring more jobs to Hoosiers and solidify Indiana's reputation as a leader in manufacturing."
LEP, which currently employs 190 full-time employees in Indiana, plans to begin the initial hiring process for new administrative, management, sales and distribution associates next month.
"Indiana was selected for the expansion and the investment because of the strong support of the state of Indiana and Clinton County for the project, the company's excellent employee base with its current workforce, the pro-business climate of the state of Indiana, and the advantageous geographic location for servicing its customer base," said Giuseppe Zichella, chief executive officer of LEP. "Being a family business, we are committed to success in the long run. The Fontana family businesses are based on strong, mutually beneficial relationships between employer, employee, the community and the environment. We believe LEP's core value of teamwork, responsibility and trust will ensure success."
LEP specializes in manufacturing standard and to-print fasteners for the agricultural, transportation, construction and automotive markets. The company's products can be found in famous structures including Chicago O'Hare Airport's United Airlines Terminal, Philadelphia's One Liberty Place Center and Cleveland's Progressive Field. LEP serves a broad manufacturing customer base including Caterpillar, Paccar, John Deere, Cummins, Chrysler and Volkswagen.
The Indiana Economic Development Corporation offered LEP Special Fasteners, Inc. up to $3,000,000 in performance-based tax credits and up to $200,000 in training grants based on the company's job creation plans. Clinton County has approved additional tax abatement.
"Clinton County is a better place with LEP being here. Their dedication to being the best in their business creates an attitude of excellence that benefits our entire community," said Shan Sheridan, economic development director at the Clinton County Chamber of Commerce. "Although this expansion and investment is vital to economic growth, it is the commitment and conviction LEP has to its core values that makes them a great partner."
About LEP Special Fasteners
LEP Special Fasteners specializes in manufacturing standard and to-print fasteners for the agricultural, transportation, construction and automotive markets. Its manufacturing, distribution and company offices are located in Frankfort, Ind. For more information about LEP Special Fasteners, please visit www.lepinc.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. For more information about IEDC, visit www.iedc.in.gov.