EVANSVILLE, IN (WFIE) - A plastics company is expanding its operations in Evansville.
EnCom Polymers Inc., a compounder of high-performance polymers for multiple industries, announced plans Tuesday to expand its headquarters in Evansville, creating up to 56 new jobs by 2021.
"Indiana has a strong reputation for making products that power our world, but we're also innovating new solutions that are driving industries forward," said Elaine Bedel, president of the Indiana Economic Development Corporation (IEDC). "With a fiscally predictable, pro-growth business climate, entrepreneurs and small businesses like EnCom Polymers can expand and create new, skilled jobs for Hoosiers with confidence."
EnCom plans to invest more than $14.9 million to purchase and upgrade its 58,000-square-foot building in the 4800 block of N. Sprint St. it is currently leasing.
The renovations will also include the installation of new, state-of-the-art equipment, including four production lines, a lab line, an injection molder and a full testing laboratory, allowing EnCom to produce its custom plastics products in-house rather than relying on out-of-state manufacturers.
The company plans to have its first production line installed and operational by September with additional lines being installed soon after.
EnCom, which currently employs 14 associates at its Evansville headquarters, plans to hire immediately for 17 positions in manufacturing and professional service.
The IEDC offered EnCom Polymers up to $550,000 in conditional tax credits based on the company's job creation and investment plans.
These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Evansville will consider additional incentives at the request of the Growth Alliance for Greater Evansville.