Poseidon Barge Plans Adams County Expansion
February 24, 2014
BERNE, Ind. - Mid-America Foundation Supply, Inc. d/b/a Poseidon Barge, a sectional barge manufacturer, announced plans today to locate a new facility here, creating up to 26 new jobs by 2015.
The Fort Wayne, Ind.-based company will invest $6.05 million to purchase, renovate and equip a 72,180 square-foot facility on 22 acres at 725 East Parr Road in Berne. The facility, which will begin operations in May, will provide the company with the additional space it needs to fabricate, store, test and display its product line of portable sectional barges.
"Indianas vibrant manufacturing community is growing," said Eric Doden, president of the Indiana Economic Development Corporation. "By keeping taxes low, we've nurtured an environment that supports the growth of companies like Poseidon Barge, allowing them to create jobs and expand Indiana's economy with minimized obstacles and maximized opportunities in a state that works."
Poseidon Barge, which currently employs approximately 70 full-time associates in Fort Wayne and at a temporary facility in Berne, has already begun hiring welders and fabricators. Interested applicants may apply in person or by sending their resume to email@example.com.
"Being located in northeast Indiana gives Poseidon a marked advantage in transporting equipment to the contractor, saving them time and money in mobilization and setup costs," said Mary Habegger-Fox, president of Poseidon Barge. "Once we learned that the vacant facility in Berne was for sale and had a chance to evaluate it and the full potential incentives available to us, the decision was made very quickly that this was the best site for our expansion. For those eager to build a career in the skilled trades of welding and fabricating, we’d love to have you as part of our team. With a local labor force that takes pride in its work, we look forward to producing quality equipment for our customers here."
Founded in 1986 to service the piling construction market, Poseidon Barge now focuses on producing multiple lines of portable section barges, used as temporary work platforms. With barges easily transportable by truck, they are designed to also serve projects on inland rivers and lakes. In order to gain better control of its production quality and capacities, Poseidon Barge plans to begin insourceing a large percentage of its equipment. The homegrown-Hoosier company operates satellite distribution yards in Cocoa, Fla., Wilton, N.Y. and Belle Chase, La., with additional product dealers across the nation.
The Indiana Economic Development Corporation offered Mid-America Foundation Supply, Inc. up to $300,000 in conditional tax credits. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Berne will consider additional incentives at the request of the Adams County Economic Development Corporation.
"We are excited and thrilled that Poseidon Barge has chosen Berne to expand their operations," said Berne Mayor Bill McKean. "We are proud to add Poseidon Barge to our manufacturing community and we look forward to developing a lasting relationship that will encourage growth and success for them."
Indiana's economy has added more than 21,000 new jobs just in the last three months, finishing 2013 with a total of 42,600 new jobs over the year. December unemployment numbers place Indiana in a better position than its neighbors with a rate of 6.9 percent, the lowest in five years.
About Poseidon Barge
Alongside their assortment of new and used barges for sale or lease, the company also offers spuds, pockets and other accessories as well as Hydraulic Barge Pushers, Poseidon Winch units and Poseidon Wood Crane Mats. Poseidon Barge offers personable and professional service to the customer, always striving to provide the best service possible. Poseidon has expanded its professional engineering department seeking to provide additional assistance to the customer during project planning, bidding and project set up.
The company plans to introduce the P10, a 10 foot tall sectional barge, by displaying its equipment in March at the CONEXPO – CON/AGG Equipment Trade Show, the largest construction equipment trade show in the United States.
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.