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.
“While Monticello was one option for expansion, our corporate team was also being asked regularly to consider opening up new facilities in Tennessee, Alabama and Mexico,” said Jeremy Kyser, plant manager at Adkev’s Monticello facility, in a release. “With the support of our local and state officials and suppliers such as NIPSCO, we are successfully finding opportunities to improve our competitiveness and continue to grow in Indiana.”
Adkev was founded in 1987 by Gary and Cathy Rheude. The company manufactures custom injection and insert parts and assembles other parts for the automotive, appliance and electrical industries.
The company, which is a tier 2 supplier to most automotive original equipment manufacturers, produces HVAC and interior and exterior car components, as well as coil windings used in light ballast assemblies across the country.