PDQ Tooling to Open Facility in Whitley County
April 8, 2014
COLUMBIA CITY, Ind. - PDQ Tooling, an indexable cutting tool manufacturer for the production machining industry, announced plans today to locate operations here, creating up to 45 new jobs by 2019.
"From agriculture to automotive, information technology to biotechnology, Indiana continues to be a state that works for businesses across the industry spectrum," said Eric Doden, president of the Indiana Economic Development Corporation. "Homegrown-Hoosier companies like PDQ experience firsthand the advantages of doing business in Indiana, and we remain committed to building upon our strong workforce, robust infrastructure and low tax policies."
The homegrown-Hoosier company, which shares ownership with Columbia City, Ind.-based PDQ Workholding, will invest $7.2 million to lease, renovate and equip a 17,000 square-foot facility located at 1100 S. Williams Drive in Columbia City. With operations expected to commence this June, PDQ plans to begin hiring assembly, engineering, administrative and machining positions later this year. Interested applicants may apply by emailing email@example.com.
"After exploring our options, we are excited to once again say that Indiana is the place for PDQs latest operations growth," said Jerry Busche, owner of PDQ. "With increasing demand for our product, we needed an environment that would help us succeed and one element that has helped boost our success is Indiana's outstanding business climate. Through the hardwork of our employees and the dedication to making the best products available, we look forward to continuing on our success here."
Founded by Busche, PDQ Tooling designs and manufactures custom indexable cutting tools for the production machining industry. It serves regional and global customers and synergizes with PDQ Workholding.
The Indiana Economic Development Corporation offered PDQ Tooling up to $300,000 in conditional tax credits based on the company's job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. Whitley County approved additional tax abatement at the request of the Whitley County EDC.
"On behalf of the Whitley County Commissioners and Council, we would like to thank Jerry Busche and his team for launching PDQ Tooling in Whitley County," said Whitley County Commissioner George Schrumpf. "This announcement demonstrates once again how Whitley County works to support the launch of new business ventures."
About PDQ Tooling
Founded in 2014, PDQ Tooling is built on providing cutting tool solutions and products to the production machining industry by utilizing the latest technologies and processes.
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: The Indiana Economic Development Corp'