Lords Seed, LLC expanding in Steuben County’
April 8, 2013
News Release
ORLAND, Ind. (April 8, 2013) - Lords Seed, LLC, an agricultural production company, announced plans today to expand its operations here, creating up to 16 new jobs by 2016.
The Howe, Ind.-headquartered company will invest $13 million to construct and equip an 18,000 square-foot seed drying facility on its 10-acre campus located at 9900 W. Maple St. in Orland, bringing the company's total footprint in the community to 45,000 square feet. The new facility, which will be operational by the end of the summer, will allow the company to complete the drying and packaging process on site.
"With more than 15 million acres of farmland, Indiana's agriculture industry serves as a vital component of our state's economy," said Eric Doden, president of the Indiana Economic Development Corporation. "We remain committed to maintaining a business-friendly environment that allows long-time Indiana citizens like Lord's Seed to prosper and continue to strengthen the Hoosier State's agricultural landscape."
Lord's Seed, which currently has 25 full-time employees in Indiana, has already begun hiring additional management and production personnel.
"We decided to expand our manufacturing operations due to the high freight costs of moving our raw products to other dryer facilities," said Mark Larimer, vice president of Lord's Seed. "Indiana is a clear choice due to the location of our production and quick access to the marketplace."
Operating in northeast Indiana since 1975, Lord's Seed produces crops ranging from seed corn, seed soybeans, hay and waxy corn for food consumption. The family-owned company, which operates six facilities in Indiana, produced 10,400 acres of seed corn last year for regional and multinational companies in the agriculture industry.
The Indiana Economic Development Corporation offered Lord's Seed LLC up to $100,000 in conditional tax credits and up to $50,000 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. The town of Orland approved additional tax abatement at the request of the Steuben County Economic Development Corporation.
"Orland is happy to have Lord's Seed located in the community," said Kevin Kellett, president of the Orland Town Council. "This expansion project is very promising for their continued growth, and we look forward to this expansion and future opportunities to assist Lord's Seed in Steuben County."
Lord's Seed is the most recent agriculture company to announce growth plans in the Hoosier State. Last month, seed manufacturer DuPont Pioneer made plans to invest $26 million to expand its seed production facilities in both Tipton and Rush counties, creating up to 41 new jobs.
About Lord's Seed
Headquartered in Howe, Ind., Lord's Seed is a family-owned farming operation that specializes in the production of various crops including seed corn, seed soybeans and hay. Having a presence in northeast Indiana for six generations, the company prides itself on maintaining a green initiative through all of its processes. To learn more, visit www.lordsseed.com.
About IEDC
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president 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.
Source: Indiana Economic Development Corp.
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