Saran Industries LLC, an industrial finishing manufacturer, will locate new manufacturing operations in Kokomo, IN, creating up to 60 new jobs by 2019.
The company will invest $4.4 million to lease and renovate a 250,000-square-foot vacant factory complex. The renovation will provide additional space for new manufacturing equipment to satisfy a growing customer base. Saran, which currently has two Indiana locations in Indianapolis and Shelbyville, plans to begin hiring associates for positions in general labor, quality, material handling, supervision and skilled trades at the new Kokomo facility.
“Adding a manufacturing facility in Kokomo enables Saran to better serve our industrial manufacturing customers in Indiana and Michigan,” said Nick Saran, vice president of Saran Industries. “We are confident in our Kokomo investment and the performance capabilities of the local workforce.”
Saran Industries is a full-service manufacturer in the industrial finishing, machining and associated services of raw materials, castings, and forgings. Saran Industries has been ISO 9001 registered since 1999, which ensures it produces high quality, heat treated aluminum components for its global automotive supply clients.
The Indiana Economic Development Corporation offered Saran Industries, LLC up to $500,000 in conditional tax credits based on the company’s job creation plans. The tax credits are performance-based, so the company is not eligible to claim incentives until employees are hired.
“The City of Kokomo has been in negotiations with Saran since December 2014,” said Kokomo Mayor Greg Goodnight. “There were other Midwestern cities that were in contact with the company. In the end, Kokomo’s skilled workforce, existing infrastructure and proximity to the company’s customer-base could not be matched.”