Shambaugh & Son Expanding in Fort Wayne
June 19, 2013
FORT WAYNE, Ind. (June 19, 2013) - Shambaugh & Son, LP, the third largest specialty contractor in the country, announced plans today to expand its headquarters here, creating up to 110 new jobs by 2016.
The homegrown-Hoosier company, which is a subsidiary of EMCOR Group (NYSE: EME), will invest $4.37 million to lease, expand and equip two facilities in Fort Wayne, bringing its total footprint in the community to 36.3 acres. The company will expand its existing facility to 140,000 square feet to house its administrative and engineering functions. In addition, Shambaugh will lease a 70,000 square-foot fabrication shop approximately 2.5 miles from its main campus. Both facilities are expected to be operational by September.
"With roots dating back 87 years in the Hoosier State, Shambaugh knows firsthand the benefits of operating in Indiana," said Governor Mike Pence. "Our low tax rates, centralized location and skilled workforce make Indiana ideal for companies looking to exercise a competitive advantage and help us offer long-lasting value as a state that works for business."
Shambaugh, which currently employs 528 full-time associates in Fort Wayne, 1,195 across Indiana and more than 1,800 nationally, has already begun hiring additional mechanical, process and refrigeration engineers, pipefitters and metal trades associates.
"Were delighted to be expanding in Indiana, where we can access a skilled workforce that allows us to provide exceptional service to our customers," said Mark Shambaugh, P.E., chief executive officer of Shambaugh. "We are very proud that our roots are here in Fort Wayne and look forward to continuing our longstanding commitment to the community."
Founded in 1926, Shambaugh is the largest process, mechanical, electrical and plumbing construction services contractor in Indiana, with additional Indiana offices in Indianapolis, Lafayette and South Bend. The company, which operates in 44 states, serves clients in the industrial, food processing, commercial and healthcare industries. The company was the main builder and designer of the world's largest, one million square-foot yogurt plant in Twin Falls, Idaho. The project was completed in 10 months, earning Shambaugh's facility the designation 2013 Food Plant of the Year from Food Engineering magazine.
The Indiana Economic Development Corporation offered Shambaugh & Son, LP up to $1,000,000 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. The city of Fort Wayne will consider additional tax abatement at the request of the Fort Wayne-Allen County Economic Development Alliance.
"Companies like Shambaugh are helping Fort Wayne continue to see job growth and positive momentum," said Fort Wayne Mayor Tom Henry. "Shambaugh has a long history of sustainability here in our community. We're appreciative of their commitment to our city."
Homegrown-Hoosier companies like Shambaugh continue to invest in northeast Indiana, growing the region's economy and creating jobs. Just last week, Pence joined executives at Brunswick Fort Wayne Operations to cut the ribbon on its new 360,000 square-foot facility. The company, which has manufactured recreational boats in the community for more than 50 years, announced plans in December to expand in Fort Wayne, adding up to 200 new jobs by 2016.
About Shambaugh & Son
Founded in 1926, Shambaugh & Son is one of the largest specialty contractors in the U.S., performing over $525 million of construction per year with over 1,800 employees throughout 44 states. Shambaugh specializes in the full range of new and retrofit construction for industrial, commercial, institutional, food processing, healthcare, commercial and bio-fuel projects. The scope of work entails the self-performance of eight broad disciplines, including mechanical, process, refrigeration, electrical, process controls, water and waste treatment, fire protection and temperature controls. Headquartered in Fort Wayne, IN, Shambaugh has offices in Indianapolis, Lafayette and South Bend, IN; Detroit and Kalamazoo, MI; Chicago, IL; and Toledo, OH.
Shambaugh is a subsidiary of EMCOR Group, Inc. (NYSE: EME), a Fortune 500 company with estimated 2012 revenues of ~$6.5B. EMCOR is a leader in mechanical and electrical construction, energy infrastructure, and facilities services and a provider of critical infrastructure systems. EMCOR gives life to new structures and sustains life in existing ones by its planning, installing, operating, maintaining, and protecting the sophisticated and dynamic systems that create facility environments---such as electrical, mechanical, lighting, air conditioning, heating, security, fire protection, and power generation systems---in virtually every sector of the economy and for a diverse range of businesses, organizations and government. EMCOR represents a rare combination of broad reach with local execution, combining the strength of an industry leader with the knowledge and care of 170 locations. The 28,000+ skilled employees of EMCOR have made the company, in the eyes of leading business publications, amongst the "World's Most Admired" and "Best Managed". EMCOR's diversity---in terms of the services it provides, the industries it serves and the geography it spans---has enabled it to create a stable platform for sustained results. The company's strong financial position has enabled it to attract and retain among the best local and regional talent, to undertake and complete the most ambitious projects, and to redefine and shape the future of the construction and facilities services industry. Additional information on EMCOR can be found at www.EMCORGroup.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.'