IN: High-Tech Canadian Company Announces Multi-Million Dollar Expansion into Northeast Indiana
2 Dec, 2010
Iotron Industries Canada, Inc., a provider of contract sterilization services to the medical industry, pest and microbial reduction for agribusiness and materials modification in the production of orthopedic products, announced today that it will establish a new operation here, creating up to 20 jobs by 2012.
Iotron Industries will invest more than $15.3 million to construct a 54,000 square-foot electron beam treatment facility in the Park 30 Business Center, a shovel-ready park near Columbia City.
"It's welcomed news to see a high-tech, international company like Iotron recognize the good things Indiana has to offer - low-taxes, welcoming to business and the most concentrated, experienced orthopedic industry workers in the world," said Governor Mitch Daniels.
The Canada-based company's electron-beam treatment process serves medical products and products used in the agribusiness industry. In addition, the company's technology is used for advanced applications such as composite curing in the defense and manufacturing industries.
"The selection of Indiana for our expansion facility represented the culmination of more than two years of intensely exploring and considering sites across the United States for a possible location," said Lloyd Scott, president of Iotron. "We believe we have now secured a highly competitive position that will benefit both Iotron and the Indiana region in the short- and long-term."
"When Iotron commenced the process of expanding the company's operations, Indiana held a good deal of interest in this expansion due to the state's leading position in the orthopedic industry and its business-friendly environment," said Joseph Rangel, chief executive officer of Iotron. "Indiana enthusiastically supported our expansion into the Hoosier state, and Iotron looks forward to helping the state expand its competitive position and assist in attracting companies requiring electron beam processing of their products."
Iotron expects to break ground on the new Iotron Industries USA facility in early 2011, with major construction to be completed by late 2011. The company's hiring will begin in January 2011 to begin training selected Indiana-based employees in specialized electron-beam processing methods at Iotron's Canadian facilities before the Columbia City facility is operational.
"While the Warsaw region is already recognized as the orthopedic capital of the world, the addition of a sterilization facility in the region adds a key component to the existing value chain of our orthopedics industry," said Brad Bishop, executive director of OrthoWorx. "Iotron's location of a sterilization facility in northern Indiana adds an important capability to the cluster, as well adding new high-tech jobs for residents in our region."
The Indiana Economic Development Corporation offered Iotron up to $200,000 in performance-based tax credits based on the company's job-creation plans. Whitley County worked with three other counties to aggregate $7 million in Recovery Zone Facility Bonds, as well as other local incentives at the request of the Whitley County Economic Development Corporation.
"Numerous Midwest companies can take immediate advantage of Iotron's new location in Indiana when the facility is completed later in 2011," said Alan Tio, president of the Whitley County Economic Development Corporation. "Their new central location gives them immediate access to major orthopedic companies in Warsaw, Indiana, and the $2 billion commercial defense industry in northeast Indiana."
"This project demonstrates Whitley County's continuing commitment to supporting medical device manufacturing, product development, and support companies," said County Commissioner Mike Schrader. "We are pleased to welcome Iotron to Whitley County and will work to encourage the company's success in our community."
About Iotron Industries Canada, Inc.
Iotron Industries Canada Inc. is a Canadian company operating an Electron Beam service center in the Greater Vancouver area of British Columbia, Canada. Iotron's Electron Beam technology can modify the physical, chemical, molecular and biological properties of materials and products, improving their usefulness and enhancing their value. An environmentally friendly process, Iotron's IMPELA® Electron Beam Accelerators need only electricity to operate and produce no waste materials. For more information, please visit www.iotron.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. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.
About Whitley County EDC
The Whitley County Economic Development Corporation (EDC) works closely with local, regional, and state partners to support our industry clients' growth and success. The Whitley County EDC was established in 1992 and represents Whitley County, Columbia City, and the Towns of Churubusco, Larwill, and South Whitley. For more information about the EDC, visit www.whitleyedc.com.
OrthoWorx (www.orthoworxindiana.com) is a Warsaw-based, industry, community and education initiative established to advance and support growth and innovation within the region's uniquely concentrated, globally significant orthopedics device sector. Funded in part by the Lilly Endowment, OrthoWorx was founded in 2009 out of a comprehensive study conducted by BioCrossroads. The initiative engages and enhances the broader community interests that both serve and depend upon the sector's continued growth by targeting an integrated set of educational, workforce, cultural, communication, branding, logistical and entrepreneurial efforts.