Mossberg Industries Expanding in Garrett
June 1, 2012
News Release
GARRETT, Ind. - Mossberg Industries, Inc., a wholly owned subsidiary of Khorporate Holdings, Inc., announced plans today to expand its headquarters here, creating up to 15 new jobs by 2014.
The company, a manufacturer of injection-molded plastic spools and reels, will invest $2.9 million to construct and equip a 45,000 square-foot addition to its current facility located at 204 N. Second St. Construction of the new addition has already begun with the expanded facility slated to be fully operational at the end of the year.
"Were delighted that companies like Mossberg are continually finding Indiana as the most prosperous location for business," said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "With our low-taxes and nationally acclaimed business climate, Indiana helps firms achieve sustainable, long-lasting growth."
Mossberg, which currently has 50 full-time employees in Indiana, has already begun hiring additional engineering and production associates.
"We are very excited to be expanding our operations in Garrett," said Jim Khorshid, general manager of Mossberg. "We have a long history in the community and hope we can help the area grow. We have a wonderful group of employees who have worked hard to develop the great reputation that Mossberg has with our customers and our community."
Founded more than 90 years ago, the company supplies to customers in the packaging, industrial and logistics industries. Mossberg, which also provides custom design and manufacturing services, operates an additional facility in Ontario, Calif.
The Indiana Economic Development Corporation offered Mossberg Industries, Inc. and JDBM, LLC up to $60,000 in conditional tax credits and up to $19,000 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 city of Garrett approved additional property tax abatement at the request of the DeKalb County Economic Development Partnership, Inc.
"We are excited to partner with Mossberg Industries," said Garrett Mayor Tonya Hoeffel. "My administration and City Council members have sent a clear message to industries interested in improvements or locating in Garrett, that we are committed to retaining and bringing jobs to our community."
In May, six companies announced plans to locate or grow their headquarters in the Hoosier State, creating more than 600 projected new headquarters and operations jobs. Just yesterday, Automotive Climate Control announced plans to invest $4.9 million to expand its headquarters in Elkhart, adding up to 40 new jobs by 2015.
About Mossberg
Mossberg Industries manufactures plastic spools and reels for a variety of extruded products. Mossberg has been supplying reels and spools for the wire, cable, hose, tubing, tapes, rope and textile industries for over 90 years. Mossberg manufactured plywood and hardboard reels for many years before shifting to plastic exclusively. Our experience with injection molding, structural molding, rotation molding and extrusions allows the Mossberg team to design custom tooling to best serve our customer's requirements. For more information about Mossberg, visit www.mossbergind.com.
About IEDC
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. Dan Hasler serves as the chief executive officer 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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