IN: Southeast Indiana Manufacturer to Grow in North Vernon
15 Dec, 2010
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Montrow Tool and Machine Inc., a manufacturer of testing gauges and specialty machines, announced today that it will expand its operations here, creating up to 30 new jobs by 2013.
The company, which designs and manufactures a variety of specialty machines for manufacturers and customers in the defense industry, will invest more than $810,000 to purchase and equip 10,000 square feet of additional production space at its North Vernon headquarters.
"Indiana continues to be a leader in competing for and winning competitive investment," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation."We know the workforce in Jennings County is well prepared to take advantage of the new opportunities that Montrow Tool is creating here."
The company, which currently employs nearly 20 associates in North Vernon, plans to begin hiring additional manufacturing personnel immediately as new contracts are phased in at the facility. Interested applicants can send résumés to email@example.com.
"Our research has revealed the cost of doing business in Indiana is lower than the surrounding Midwestern states and just as important Indiana is our home," said Mike Montgomery, owner and chief executive officer of Montrow Tool and Machine Inc.
Founded in 1987 in Versailles, Ind., Montrow Tool and Machine Group moved to North Vernon in 1988, where it currently operates out of 15,000 square feet of space. In 2004 Montrow joined with Nagoya, Japan-based Chiyoda Kougyou Company., Ltd. to form the joint venture Chiyoda Montrow Die Manufacturing Inc., which is also located in North Vernon.
The Indiana Economic Development Corporation offered Montrow Tool and Machine up to $175,000 in performance-based tax credits and up to $100,000 in training grants based on the company's job creation plans. The city of North Vernon will provide additional tax abatement at the request of the Jennings County Economic Development Commission. Additional grant funding will be administered through the Lawrenceburg and Southeastern Indiana Regional Economic Development Fund.
"North Vernon and Jennings County are extremely pleased to partner with Montrow Tool and Machine with their expansion plans. The creation of 30 new high paying and high skilled jobs for the community couldn't come at a better time for Jennings Countys," said Kathy Ertel, executive director of the Jennings County Economic Development Commission. We are excited to watch Montrow Tool and Machine diversify itself into the ever-demanding defense marketplace."
Montrow Tool and Machine Inc.'s announced growth comes just more than one month after contract packager, J&J Packaging announced that it would invest more than $2.5 million to upgrade equipment at its facility in nearby Sunman, creating up to 50 new jobs by 2013.
About Montrow Tool and Machine Inc.
Montrow Tool and Machine Inc. is a manufacturer of testing gauges and specialty machines to manufacturers and customers in the defense industry. Founded in 1987 and headquartered in North Vernon, Ind. Montrow Tool and Machine manufactures out of 15,000 square feet of production space. For more information visit: www.montrowgroup.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.