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Governor Mitch Daniels joined executives from Exegistics, a veteran-owned logistics service provider, today to announce the company's plans to open its first Indiana facility here, creating up to 315 new jobs by the end of 2014.
Headquartered in Wheeling, Ill., Exegistics will invest approximately $9 million to build and equip a rail-sided, distribution facility on a ten-acre campus in Jennings County. The existing structure on the property, which has been vacant for 15 years, will be demolished and construction of the company's new facility is expected to begin in January. Exegistics will establish a temporary regional office at the North Vernon Education Training Center this month until facility construction is complete.
"The Exegistics decision, right on top of the Windstream opening, marks North Vernon as a great place for business," Daniels said. "Indiana is proud to welcome another innovative, growing business to our best-in-America logistics industry."
Established in 2008 by former Marine Corps Officer Stephen Olds, Exegistics provides warehousing, light assembly, packaging and value-added resourcing to government agencies and medium-sized to Fortune 50 companies. Olds has spent his career working with well-known companies like General Electric, Honda, Newell Rubbermaid and United Technologies Corp. as well as major government branches including the Defense Logistics Agency. Today, the company handles more than $100 million of production distribution materials annually.
"We are excited about locating our new distribution and fulfillment operation in North Vernon. While we evaluated other locations, Indiana and the city of North Vernon offered the best pro-growth partnership and access to a highly qualified and values-based labor market," said Olds. "In our third party logistics, service-based industry, we pride ourselves on developing and delivering innovation to our customers. We look forward to hiring in this area with employees that can help us continue to deliver exceptional value to our customers and prospects. Our new state of the art, rail-sided facility is the first phase of planned expansion in the region."
As part of Exegistics' project in Jennings County, a spur off the short line rail in North Vernon will be rehabilitated creating a lower cost and environmentally friendly logistics system that will support the company's regional customers and the National Guard at the Muscatatuck Urban Training Center. Exegistics, which has operations nationwide, plans to begin hiring distribution, assembly and packaging operators to coincide with facility construction completion.
The Indiana Economic Development Corporation offered Exegistics up to $1,800,000 in conditional tax credits and up to $100,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. In addition, the IEDC will provide Jennings County with up to $125,000 in infrastructure assistance from the state's Industrial Development Grant Fund. The city of North Vernon will provide additional incentives at the request of the Jennings County Economic Development Commission.
"I am extremely pleased to welcome Exegistics to North Vernon," said Mayor Harold Campbell. "I believe that this project will directly drive job creation to not only Jennings County but to the entire southeastern region of Indiana."
Earlier this month, WindStream Technologies, one of Exegistics' current customers, celebrated the opening of its new production facility in North Vernon. The manufacturer of wind energy technology recently teamed up with the Buffalo Bills to install micro-wind turbines at Ralph Wilson Stadium, marking the first deployment of micro-wind technology in an NFL stadium. In 2009, WindStream announced that it will create more than 260 new jobs by 2014 in southeast Indiana.
About Exegistics
Exegistics is a veteran-owned 3PL (third party logistics) company that provides distribution, packaging, assembly, lead logistics management, and value-add resourcing solution (staffing) services. As the premier provider of outsourced supply chain and operations focused solutions, we work with our clients to design and deliver results that drive innovation to improve cost and service performance. Our client relationships, associates, and performance results are grounded in our core values of open communication, unwavering accountability, committed ingenuity, and strong leadership. For more information, visit www.exegistics.com or email innovations@exegistics.com.
About IEDC
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.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
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