MONTICELLO — Adkev Inc., a Goodland-based injection and insert molding manufacturer, plans to expand its operations in Monticello and add up to 60 new jobs by 2016.
The Hoosier company will invest $11 million to expand, renovate and equip its existing 183,000-square-foot facility in Monticello, adding 40,000 square feet of manufacturing space, according to a release from the Indiana Economic Development Corp.
The expansion began in October. Installation of new injection molding machines is expected to double Adkev’s production capacity.
Indiana Gov. Mike Pence joined Adkev executives Tuesday for an announcement about the expansion.
The Indiana Economic Development Corp. offered Adkev up to $300,000 in conditional tax credits and up to $50,000 in training grants based on the company’s job creation plans.
Those tax credits are performance-based, so until Hoosiers are hired, the company is not eligible to claim incentives.
Adkev, which currently employs 85 people in Monticello among the 315 full-time Indiana associates, plans to begin hiring production technicians, quality auditors, machine setup technicians, supervisors, quality engineers and customer service representatives to coincide with renovation completions.
White County approved additional tax abatement at the request of the White County Economic Development Organization.
“The city of Monticello and White County are very excited about the planned expansion of Adkev’s injection molding facility here,” said White County Commissioner John Heimlich in a release. “Since its move to Monticello seven years ago, Adkev has become a key member of our manufacturing community. The quality jobs this expansion will create are crucial to the continued growth of our manufacturing base.”
The expansion is the latest in a series. In July 2006, the company made plans to invest $1 million into its Goodland headquarters facility, creating 39 new jobs. The company then began production at its new Monticello facility in January 2007 and opted to add additional manufacturing space there this year.