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Continental Structural Plastics will invest $9 million to locate a manufacturing operation in Huntingdon, Indiana, creating up to 350 jobs.
The company, which produces compression-moulded composite parts and components for the automotive industry, plans to move into an existing 200,000 square-foot facility. The 28-year-old company has additional plants in Ohio, Louisiana and Mexico, although is reported to be closing the North Baltimore, Ohio plant in October.
Governor Mitch Daniels joined executives from Continental Structural Plastics to announce that the company will locate its latest composites manufacturing operation there, creating up to 350 jobs by 2012.
“”Days like today remind us that Indiana’s cost of doing business, fiscal stability and superior workforce have given us one of the best competitive advantages in the country,”” said Daniels. “”Keeping taxes and other business costs down while they’re rising elsewhere pays off where it matters most, in private sector jobs for Hoosiers,”” said Daniels.
CSP supplies highly-engineered composite products for applications in industries such as automotive, heavy truck, building products, solar power and water management. Products manufactured by CSP include Class A automotive body panels, fuel economy-boosting vehicle underbody shields, full composite pickup truck beds, solar energy original equipment manufacturer parts, electric and hybrid vehicle components, heavy truck hoods and fenders, among others.
“”In our continuing search for excellence and in line with our strategic plan to grow as the leader in lightweight composites, CSP felt that Indiana would make an excellent partner for its next manufacturing operation. Though we had a world of options, ultimately Indiana provides the right business environment, leadership and structure that will allow a business like ours to be successful,”” said Thomas Hilborn, Continental Structural Plastics.
The Indiana Economic Development Corporation offered Continental Structural Plastics, Inc. up to $2.4 million in performance-based tax credits and up to $100,000 in training grants based on the company’s job creation plans. The Huntington City Council will consider additional property tax phase-in at the request of the Huntington County United Economic Development Corporation.
“”I am very excited to welcome CSP to Huntington. Their commitment to create new jobs in Huntington could not have happened at a better time for us and hopefully will be the best business decision CSP will ever make,”” said Huntington Mayor Steve Updike. “”The Indiana Economic Development Corporation and Governor Daniels were a tremendous help to Huntington County Economic Development in making it possible for Huntington to win this opportunity. I also want to thank City Council president Erv Ebersole for his support of this company in the CEDIT Advisory Committee. Team efforts are critical for economic development success.””
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