Turkish Composites Maker Puts U.S. HQ in Muncie
Based in Turkey, the company will invest $12.5 million to equip 44,000 square feet of space at the newly-created Turkish Business Center in Muncie for its U.S. headquarters and first facility in North America. The facility, which will also serve as a manufacturing and distribution center, will be focused on producing 100 percent recyclable composite slate tiles for the Midwestern home market.
“Indiana has established itself on the global stage as the location of choice for international companies like Kermit to invest and create jobs,” said Governor Mitch Daniels. “As one of the most highly-rated business climates in the nation, Indiana is able to secure more jobs for Hoosiers through our innovative pro-growth policies and outstanding workforce.”
Kermit, which employs 120 associates globally,¬†plans to begin hiring administrative, production, insulation experts, warehouse and logistics positions next summer.
“After the recent trip to Turkey by city leaders, we were convinced that Muncie was our new home,” said Erdal Cakici, president of Kermit. “Indiana’s friendly business atmosphere and the accommodating nature of these officials helped make our decision.”
Founded in 2004 in Istanbul by Kermit USA’s Investment Group, the company operates internationally in France, Libya, Moldova and Iran. The company has won numerous environmental accolades throughout Turkey and Europe for its production of recyclable manufactured goods.
The Indiana Economic Development Corporation offered Kermit USA, LLC up to $300,000 in performance-based tax credits and up to $50,000 in training grants based on the company’s job creation plans.¬†The city of Muncie will consider tax-increment financing.
“This is the first of what we hope will be many businesses from Turkey to locate in Muncie-Delaware County,” said Todd Donati, president of the Delaware County Commissioners. “The TBC played an integral role in the attraction of Kermit USA and the associated jobs and capital investment. We believe it will play a substantial role in attracting additional investment from Turkey.”