Steel tube manufacturer expanding to Richmond
RICHMOND, Ind. (Inside INdiana Business) – An Ohio-based welded steel tube manufacturer is expanding to Wayne County. Phillips Tube Group plans to invest more than $8 million to set up operations at the Eastern Indiana Industrial Park in Richmond and create 30 jobs by 2024.
Chief Executive Officer Angela Phillips says she believes the facility will solidify the company as the leading steel tube manufacturer in North America.
“The Midwest region of the U.S., and Indiana in particular, represents our priority market for growth as our company continues to gain market share,” Phillips said in a news release. “Richmond’s business-friendly environment, skilled workforce, and interstate location make this new facility primed for success.”
The Economic Development Corp. of Wayne County says the new jobs will come with an average wage of $26 per hour.
Both the EDC and the Wayne County Commissioners have approved a $98,500 Economic Development Income Tax Grant to help offset the cost of building renovations, equipment purchase and installation, and employee training.
“Our investment in this facility represents the most technologically advanced machinery and processing equipment in the industry.” EDC President Valerie Shaffer said. “The company’s plans to make the Richmond facility a high technology center demonstrates their confidence in this location.”
The Indiana Economic Development Corp. has also offered Phillips Tube Group up to $325,000 in conditional tax credits, which the company will not be eligible to claim until Hoosier workers are hired for the new jobs.