Jewelry Producer Opens New Plant in Floyd County, IN
Earlier this year, Gov. Mike Pence joined executives from Ronaldo Designer Jewelry, Inc., a family owned producer and distributor of handcrafted wire jewelry, to announce the company’s plans to expand its operations in New Albany, IN, creating up to 80 new jobs by the end of 2013.
The company invested $519,300 to purchase and equip a 4,400 square-foot facility. Ronaldo Designer’s new location, which houses 90 percent of its jewelry production, opened its doors in January.
“Ronaldo Designer’s expansion and commitment to our state reinforces southeast Indiana’s economic strengths,” said Pence. “Our solid fiscal house, unmatched infrastructure and quality workforce make Indiana stand out as a state that works for business.”
“Due to the popularity of our products, we needed a facility to expand our production capacity and continued growth. Indiana is a natural fit for our family owned company and we are proud to call Indiana our home,” said Ronnie “Ronaldo” Needham, owner and president of Ronaldo Designer.
The Indiana Economic Development Corporation offered Ronaldo Designer Jewelry, Inc. up to $200,000 in conditional tax credits and 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.
“We are excited Ronaldo Designer chose downtown New Albany to call home and grow its business,” said New Albany Mayor Jeff Gahan. “They are a nice compliment to the organic growth and rebirth we’ve been encouraging in our downtown area. The city of New Albany is excited by these new jobs and investment and look forward to the company’s success for many years.”