Posted by Heidi Schwartz
Beach Mold & Tool Inc., an injection molding and precision tool manufacturer, has announced plans to expand its operations in New Albany, IN, creating up to 160 new jobs by 2019. The company, which currently employs 603 Indiana residents and 665 total associates in New Albany, has already begun hiring.
“Beach Mold & Tool continues to expand, fueled by demand for quality manufacturing and supported by an economic environment that lays the groundwork for growth without standing in the way,” said Gov. Mike Pence.
Beach Mold & Tool will invest $23.3 million to expand its operations in New Albany, constructing a new warehouse adjacent to its existing manufacturing and assembly facility in the New Albany Industrial Park. The new warehouse, which is expected to be complete by July 2016, will allow the company to convert space at the existing facility to increase its manufacturing capabilities. The investment will also be used to purchase several large injection molding presses and to update existing equipment for energy and technology updates.
“As a result of our skilled and dedicated workforce in New Albany, we have seen sales growth from our existing customers,” said William H. Beach, owner and chief executive officer of Beach Mold & Tool. “We are fortunate to have an opportunity to provide parts and assemblies for a new program by a current customer, which will require us to expand warehousing, manufacturing space and employment. The city of New Albany, the Indiana Economic Development Corporation and One Southern Indiana have been highly supportive of this aggressive expansion and we appreciate their assistance.”
Established in New Albany in 1972, Beach Mold & Tool Inc. is a privately held company that manufactures plastic injection molding and precision tools for automotive manufacturers, automotive part suppliers, medical component suppliers, business technology enterprises and consumer product suppliers. Founded by William and Juanita Beach, the company has an additional facility in Emporia, VA, together operating more than 160 injection mold machines to serve customers, including Fortune 500 companies, across the globe.
The Indiana Economic Development Corporation offered Beach Mold & Tool up to $1,250,000 in conditional tax credits based on the company’s job creation plans. The city of New Albany will consider additional incentives at the request of the One Southern Indiana.
“For over 40 years, Beach Mold & Tool has been a great corporate partner, providing support and employment for the citizens of New Albany and surrounding communities,” said New Albany Mayor Jeff Gahan. “The Beach Mold & Tool expansion is expected to make New Albany more competitive and improve the quality of life for residents for years to come and the city of New Albany stands ready to help in any way it can.”