LureCraft Expanding in Steuben County
October 8, 2014
ORLAND, Ind. - LureCraft Fishermans Shop, Inc., a manufacturer of fishing lures and components, announced plans today to expand its operations here, creating up to 91 new jobs by 2017.
The homegrown-Hoosier company will invest $408,000 to purchase, renovate and equip a 22,000 square foot facility in Orland, which will increase its operations by more than 15,000 square feet from its current facility. The new location, which will be operational by December, will allow the company to grow its fishing lure production, expand its warehouse and ship its products around the world.
"LureCraft noticed a need in the market and met it, helping fishermen build their own lures," said Eric Doden, president of the Indiana Economic Development Corporation. "After establishing itself, it sought growth opportunities and found them. These are hallmarks of Hoosier innovation and ingenuity. We are happy that after its initial Indiana success, they are adding new jobs and keeping their growth here at home."
LureCraft is already hiring for manufacturing positions and plans to hire additional assembly, packing and managerial associates in the coming months. Interested applicants may apply at the company's current facility in LaGrange, through any WorkOne office or online at www.indianacareerconnect.com.
"When looking across the Midwest for the ideal facility, we kept coming back to Indiana," said Kim Straley, owner and president of LureCraft. "We found the ideal location in Orland, and when paired with the Hoosier workforce available here, Indiana stood out as the perfect location."
Founded in 1966, LureCraft manufactures liquid soft plastic, coloring, plastic molds and aluminum molds, which fisherman and other companies use to manufacture and assemble fishing lures. Since 2006, the company has tripled its revenues from fishing lure components for national and international audiences. LureCraft has been awarded a contract for the Wicked Glow Lures line of fishing lures featured in the National Geographic reality television series Wicked Tuna and Wicked Tuna: North vs. South. These fishing lures, which are designed by the show’s fishermen, will be available to purchase this month online through the Wicked Glow Lures website and in the coming months at sporting goods stores including Bass Pro Shop, Cabela's and Dick's Sporting Goods.
The Indiana Economic Development Corporation offered LureCraft Fisherman's Shop, Inc. up to $350,000 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. Steuben County will consider additional incentives at the request of the Steuben County Economic Development Corporation.
"LureCraft has an excellent opportunity through their new partnership with Wicked Tuna and the National Geographic channel," said Rick Shipe, president of the Steuben County Council. "We are happy to assist the company and wish them great success."
With Indiana's skilled workforce and pro-growth business climate, companies like LureCraft help Indiana lead the nation in manufacturing job growth, adding 20,100 manufacturing jobs in just the last year. Indiana also continues to have the highest concentration of private sector manufacturing jobs out of all states in the nation.
About Lure Craft
LureCraft has been in business for over 48 years. The original owner formulated the first plastic and was the first liquid plastisol offered on a retail level for people to make their own soft plastics. Thru the years, the formulations have stayed the same, only changing in ways that improved it. The plastic is formulated in-house with the same chemicals every time, making our plastic the most consistent. For more information, visit www.lurecraft.com.
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.'