HAMILTON, Ind. (WOWO) – Family-owned Triton Metal Products has announced that they are expanding their facility and will be creating 13 full-time jobs.
The expansion is due to state and local incentives. This enables them to build a $1.5 million and 20,000 square foot building expansion and create some full time jobs. The $9.6 million incentive will also allow Triton to invest $8.1 million in equipment and machinery.
John Freudenberger, CEO of Triton Metal Products says “The incentives from state, regional and local sources create a tremendous opportunity for us,” and “at Triton, we’re all about making a meaningful difference in the lives of our team, our community and our customers. These funds help us to do just that. It is a privilege to invest the money back into our team, to provide our Tritons the best wages, the best training, the best culture and the best work environment. We live by our brand positioning ‘Minds + Machines’ to attract the very best talent.”
Triton Metal Products was offered up to $90,000 in conditional tax credits by the IEDC because of the company’s job creation plans. The incentives are based, which means that the incentives will not be able to be claimed until Hoosiers are hired.
Incentives were also offered by Northeast Indiana Works and the town of Hamilton.
Groundbreaking for the expansion is expected to happen in April of this year with completion in the fall.