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[IEDC] Steel Manufacturer Growing in Floyd County
Start Date: 8/21/2014Start Time: 12:00 AM
End Date: 8/21/2014
Entry Description
NEW ALBANY, Ind.  (Aug. 21, 2014) – Advance Fabricators, Inc., a full service engineering, fabrication, machining and field service company, announced plans today to expand its operations here, creating up to 20 new jobs by 2017.
 
The homegrown-Hoosier company will invest $2.15 million to renovate and equip its 15,000 square-foot facility in New Albany, adding new work stations and a 6,000 square-foot area with a 36-foot ceiling to fit the company’s new 20-ton crane. The expansion, which will be operational next March, will allow Advance Fabricators to accommodate larger projects for its customers.
 
“Hoosier manufacturing has gained a well-known reputation,” said Eric Doden, president of the Indiana Economic Development Corporation. “Indiana-made goods, like the products produced by Advance Fabricators, are high-quality and high-value. It all starts with our skilled workforce and continues onto an environment that supports business growth, all made possible in a state that works.”
 
Advance Fabricators, which currently employs approximately 25 full-time Indiana associates, plans to begin hiring for fabrication and machinist positions in January. Interested applicants may apply by emailing a resume to pearls@advancefabricators.com or mailing it to the company at 980 Progress Blvd. in New Albany.
 
“Advance Fabricators is proud to expand in Indiana for many reasons,” said Gary Ragsdale, owner of Advance Fabricators. “Indiana has a solid record supporting small and large business. Indiana maintains a state that is economically sound and allows business to operate knowing the future holds great opportunity.”
 
Founded in 1975, Advance Fabricators offers complete design and build services for companies that handle bulk materials, including the cement, coal, limestone and gravel industries. Advance Fabricators offers heavy and light fabrication of carbon, stainless steel and aluminum, along with a machining facility. The family-owned business utilizes laser, water jet and plasma technologies, along with producing screw, drag and belt conveyors. Advance Fabricators’ parts division supplies new precision parts for equipment manufacturers and the railroad industry.
 
The Indiana Economic Development Corporation offered Advance Fabricators, Inc. up to $50,000 in training grants based on the company's job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of New Albany will consider additional incentives at the request of One Southern Indiana.

“The city of New Albany is very pleased to see the continued improvements and capital investment across our community,” said New Albany Mayor Jeff Gahan. “We believe this growth and other recent expansion efforts are evidence of the growing business sector and improved economy in New Albany and herald more success to come.” 

Manufacturing represents 25 percent of Indiana's economy and 97 percent of Indiana's exports. According to Conexus Indiana, manufacturing companies like Advance Fabricators contribute $64 billion annually to the Hoosier State’s economy, making Indiana one of the states with the largest manufacturing concentrations in the nation.

About Advance Fabricators
Advance Fabricators, Inc. is a full service engineering, fabrication, machining and field service company serving industry for over 38 years. We can assist you to stretch your plant maintenance or manufacturing budgets by offering complete design / build services. We have been in business since 1975 and our management team members each have well in excess of 25 year experience each. We are also the largest stocking distributor of screw conveyors and  parts in the Louisville, Ky. and southern Indiana metropolitan area.
 
About IEDC
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.

  
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Media Contacts:
Gary Ragsdale (Advance Fabricators) – 812.944.6941 or rags@advancefabricators.com
Katelyn Hancock (IEDC) – 317.234.2294 or kahancock@iedc.in.gov
Contact Information:
Name: Katelyn Hancock
Phone: 317-234-2294
Email: kahancock@iedc.in.gov
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Entry Type:
Press Release
Entry Category:
  • Announcements
  • IN.gov Category:
  • Business & Agriculture
  • Agency Name
    Economic Development Corporation, Indiana

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