Morgan County scored several big economic development wins in 2014, Morgan County Economic Development Corp. Executive Director Chelsey Manns said Wednesday during the annual MCEDC meeting.
Manns' presentation at the annual luncheon preceded a talk by Katie Culp, president of KSM Economic Development, on what businesses are looking for when they consider potential new homes for their operations.
A written, glossy, multi-page report was available in the community room of South Central Indiana REMC before Manns gave her presentation.
The report states that in 2014, MCEDC had 116 project leads and several projects were completed. Those jobs came with commitments of 241 new jobs and a related payroll of $5.9 million. The projects amounted to $73.6 million in new, private investments, according to the report.
In the report, a chart shows that those 241 new jobs provided an average pay of $22,475 per year. An additional 38.9 indirect and induced jobs came with an average wage of $35,109.
The growth provided a $40.3 million impact on Morgan County in 2014 and produced $6.5 million in disposable income. The disposable income was split with shelter receiving 21.8 percent of that money, followed by transportation, 20.6 percent; food, 16 percent; health care, 9 percent; utilities, fuel and public services, 8.6 percent; entertainment, 6.2 percent; apparel, 4.2 percent; household furnishings and equipment, 3.7 percent; education, 3.2 percent; gifts, 2.6 percent; household operations, 2.3 percent, and reading, 0.3 percent.
The companies involved in the wins were Mt. Olive Manufacturing Inc., Mooresville; TOA (USA) LLC, Mooresville; Form/Tec Plastics Inc., Martinsville; and Linel, Mooresville.
The TOA expansion plans are the biggest with the intent of creating 220 jobs by the end of 2015. The company plans to invest $72 million over three phases in equipment and in building additional manufacturing and warehouse space. During the year, Manns and Mooresville Town Council President Mark Mathis traveled to Ota, Japan, home of TOA Industries.
Mt. Olive announced plans to add five new jobs and 4,400 square feet to its existing facility.
Form/Tec's plans include creating six jobs, purchasing new equipment and adding 4,000 square feet to its facility.
Linel's expansion, announced in 2014, included a $500,000 expansion project and the addition of 10 jobs.
MCEDC also received honors and grants in 2014.
MCEDC was chosen as a winner of the Top 5 Award of Excellence in metal fabrication by Expansion Solutions magazine. The awards recognize economic development organizations that have shown exceptional development progress, according to the annual report.
MCEDC also was chosen as a recipient of a Duke Energy Foundation economic and workforce development marketing grant of $15,000. The money will allow MCEDC to go ahead with the launch of a new website.