New Albany Company to Expand, Create Up to 160 New Jobs

NEW ALBANY, Ind. (AP) – A southern Indiana injection molding and tool manufacturer has announced plans to create up to 160 new jobs by 2019.

The Indiana Economic Development Corp. said Monday that Beach Mold & Tool Inc. will invest $23 million to expand its operations in New Albany. A new 140,000-square-foot warehouse expected to be complete by July 2016 will allow the company to convert existing space to manufacturing.

The IEDC offered Beach Mold & Tool up to $1.25 million in conditional tax credits based on the company's job-creation plans. It says the city of New Albany will consider additional incentives at the request of local economic development officials.

The company currently employs 665 people in New Albany.