The Indianapolis-based company will invest $2.3 million to construct a new 17,500 square-foot building for granite memorial production. Construction of this new facility is slated to begin this spring.
Buchanan Group, which currently has 300 full-time employees in Indiana, plans to begin hiring additional production, delivery and installation associates this spring.
"We appreciate the business friendly climate in Indiana and are pleased to stay and grow new business in our home state," said Bruce W. Buchanan, principal of Buchanan Group. "Our acquisition, Fewell Monument Company, pioneered monument laser technology years ago and their library of designs is the envy of the industry. We will capitalize on this fact while creating jobs and constructing a better building in Scottsburg. As personalized funerals have become the norm, we see tremendous potential to grow our Indiana-based business nationally."
Founded more than 130 years ago, Buchanan Group and its associated companies are owned and operated by Bruce and Brian Buchanan, who represent the fourth generation of family-ownership. In 1999, Buchanan Group became the manager of the cemeteries belonging to the Archdiocese of Indianapolis. In 2008, the company's Washington Park Cemetery built and dedicated the state's first memorial to the Indiana National Guard.
The Indiana Economic Development Corporation offered Buchanan Group Services, LLC up to $100,000 in conditional tax credits and up to $32,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Scottsburg will consider additional property tax abatement.
About Buchanan Group
Buchanan Group, and its premier business, Flanner and Buchanan Funeral Centers, was established in 1881. It is one of Indiana's oldest companies that has been continuously run by the same family. Based in Indianapolis, Buchanan Group services Indiana communities with the broadest network of funeral homes (14) and cemeteries (15). More than the sale of funeral and cemetery services, Buchanan Group works with and empowers its clients to create meaningful end-of-life memorials for their loved ones. More recently, the company has expanded through diversification into complimentary products such as granite memorials and a national casket distribution business.
Created by Governor Mitch Daniels, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
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