A 25-year-old local supplier of carbon and stainless steel tubing to automotive parts makers announced its newest expansion project Wednesday morning.
Seymour Tubing has plans to increase its local workforce and invest more than $2 million in its operations here, according to a news release.
The Japanese-based manufacturer of tubing components announced it will spend $2.44 million to purchase new equipment and hire up to 22 new employees in 2015.
High-speed cutting and additional processing equipment is expected to be installed by December to help the company add new automotive customers and increase business with current customers.
The company, which is a subsidiary of Nippon Steel and Sumikin Pipe Co., operates out of a 432,000-square-foot facility at 1515 E. Fourth St. in Eastside Industrial Park.
With more than 450 full-time employees, Seymour Tubing is the fourth-largest industrial employer in Jackson County, according to Jackson County Industrial Development Corp.
It has continued to grow since its founding in 1989 and remains a vital part of the area’s industrial and economic climate, city officials said.
“The decision by Seymour Tubing to expand and add to their workforce is great news for our community,” Mayor Craig Luedeman said. “They continue to be one of our great partners in helping Seymour grow and prosper.”
The city council approved the company’s request for a tax abatement on the investment in June.
The Indiana Economic Development Corp. is providing up to $100,000 in training grants for the company, based on its job creation plans. The tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible for the incentive, according to a news release from the IEDC.
“Companies like Seymour Tubing thrive with a team of Hoosiers — a team that is knowledgeable, trained and experienced,” said Victor Smith, Indiana’s secretary of commerce. “Combine that with Indiana’s affordability, low taxes and great location, and it is clear why Seymour Tubing continues to choose Indiana out of a world of options for its business.”
In 2012, the company announced plans to invest $20.2 million and add 18 new jobs by this year. That goal has since doubled and hiring for production positions has begun.