JEFFERSONVILLE, Ind. Chemtrusion, Inc. and Mytex Polymers US Corp., a subsidiary of Japan-based Mitsubishi Chemical Company, announced plans today to expand operations here, creating up to 11 new jobs by 2016.
The companies plan to jointly invest $7.6 million to expand and equip their 245,000 square-foot manufacturing operations in Jeffersonville by expanding their warehouse and rail storage facilities and installing new equipment beginning in March to improve competitiveness. With this growth, the companies anticipate increasing production capacity by 25 percent to allow Mytex to capture growing demand from its automotive customers.
Chemtrusion and Mytex Polymers currently employ a combined 170 full-time associates, including more than 100 in Indiana. The companies plan to begin hiring for manufacturing positions in July. Interested applicants may apply in person at 1403 Port Road in Jeffersonville.
We have experienced significant growth in automotive related sales during the last several years and look to capture continued growth in this segment, said Masayuki Arai, president of Mytex Polymers. A key pillar in our parent companys strategy is capacity expansion in North America, and Jeffersonville remains an attractive location, as it is centrally located amongst many of our automotive customers.
Chemtrusion and Mytex Polymers have worked together at the Jeffersonville location since it was founded in 1996. The companies develop, test and manufacture polymer solutions that are used in products including automotive parts, household appliances, recreational vehicles, industrial equipment and specialty packaging.
We are excited about the proposed expansion project and very pleased that Mytex Polymers continues to place its confidence in Chemtrusion, said Scott Owens, president of Chemtrusion. As we approach our twentieth year of operations in Jeffersonville, the Jeffersonville compounding facility continues to be an example of our dedication to deliver safe, reliable and efficient services to our customers.
The Indiana Economic Development Corporation offered Chemtrusion, Inc. up to $80,000 in conditional tax credits 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 Jeffersonville will consider additional incentives at the request of One Southern Indiana.
The city of Jeffersonville is very pleased to see the continued improvements and capital investment at Mytex Polymers and Chemtrusion, said Jeffersonville Mayor Mike Moore. We believe this project is one of many projects that are evidence the manufacturers in this area are securing their foothold in southern Indiana.
Chemtrusion provides compounding services to the plastics industry and conducts dedicated operations for Mytex Polymers at its Jeffersonville, Indiana compounding facility. Chemtrusion is a subsidiary of Compounding Innovation, Inc. headquartered in Houston, Texas. Chemtrusion currently employs 107 at its Jeffersonville facility. For more information about Chemtrusion, visit www.chemtrusion.com.
About Mytex Polymers US Corp.
Founded in 1987, Mytex Polymers compounds high-performance engineered polyolefin materials for a wide variety of applications. The company develops, tests and manufactures polymer solutions that are used in everything from automotive parts (both exterior and interior) to household appliances; from recreational vehicles and industrial equipment to specialty packaging. Mytex Polymers is a subsidiary of Japan Polypropylene Corporation, a joint venture between Japan Polychem Corporation (a subsidiary of Mitsubishi Chemical) and JNC Corporation.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president 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.