RICHMOND, Ind. (Inside INdiana Business) — A newly-formed manufacturing startup has announced plans to build a new facility in the Midwest Industrial Park in Richmond. The Economic Development Corp. of Wayne County says Element 13 will invest nearly $16 million to construct the 60,000-square-foot manufacturing plant and create 30 full-time jobs by 2022.
The facility will be used to manufacture aluminum billets used in a variety of industries, including construction, aerospace, recreation and automotive. The company says the billets are used to make such products as window and door frames, bleachers and components for trucks, cars and planes.
“Element 13 is very excited and looking forward to becoming a part of the Richmond community,” Chris Rasmussen, president and chief executive officer of Element 13, said in a news release. “Valerie (Shaffer) and everyone involved in making this happen have been nothing short of accommodating and a real easy decision for us to build our future in Richmond.”
The EDC of Wayne County has offered Element 13 up to $146,000 in Economic Development Income Tax grants, which will be used to help offset the cost of construction, equipment and employee training. The grants must still be approved by the Wayne County Commissioners. Last month, the Richmond City Council approved a series of tax abatements for the project as well.