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| FOR IMMEDIATE RELEASE
4100 Charlestown Rd.
New Albany, IN 47150
812.945.0266
www.1si.org |  |
| One Southern Indiana Announces 150th Economic Development Project
with Beach Mold & Tool, Inc., Expansion |
NEW ALBANY, IND. (June 5, 2017) –One Southern Indiana (1si), the chamber of commerce and lead economic development organization for Clark and Floyd counties, Ind., announced today its one-hundred-fiftieth economic development project since its formation in 2006. Beach Mold & Tool, Inc., appeared in front of the New Albany City Council this evening and received real and personal property tax abatements for a planned investment of $12.3 million to prepare for a large-scale contract with an automotive original equipment manufacturer (OEM).
This is the second large-scale expansion in recent years for Beach Mold & Tool, Inc. In 2015, the company invested $13.7 million in a project which included the construction of a 123,000-square-foot warehouse on Green Valley Road in New Albany, Ind., and continues to seek to fill positions associated with that project.
With the approval of the tax abatement, Beach Mold & Tool, Inc., plans to enlarge its tool shop and warehouse at the same location, purchase new equipment and install a large capacity crane. Construction is slated to begin this summer in preparation for the new contract which will begin in 2019. In addition to the new investment, Beach Mold & Tool, Inc., will continue to employ in excess of 500 people.
Beach Mold & Tool Inc., which will celebrate its forty-fifth anniversary this year, is a manufacturer in the plastics industry producing injection molded parts and assemblies. The company also has a full-service tool shop to serve its customers. Beach Mold & Tool, Inc. produces parts for customers in the medical, business systems and automotive industries.
“Beach Mold & Tool, Inc., is proud to have received a second major contract, in as many years, as a result of our expertise and dedicated workforce in New Albany. This expansion will help assure that Beach Mold & Tool continues to grow in Southern Indiana,” stated William H. Beach, CEO and owner of Beach Mold & Tool, Inc. “The City of New Albany and One Southern Indiana have been highly supportive of this aggressive expansion and we appreciate their confidence in our success.”
“Beach Mold & Tool is an exceptional local employer, and they have recognized that New Albany is a great place to continue to grow their business. We are very happy that Beach Mold & Tool will be expanding in our community,” stated Mayor Jeff Gahan.
1si reached the benchmark of 100 economic development projects in February, 2014, after eight years of work. Economic growth in the region has spurred new projects allowing 1si to reach its one-hundred fiftieth project only three years later.
Wendy Dant Chesser, president and CEO of 1si said, “It is incredibly fitting to mark our one-hundred-fiftieth completed economic development project with the announcement that Beach Mold & Tool, Inc., is, again, going to expand. Manufacturers in Indiana account for 29.71 percent of the total output in the state, employing 16.8 percent of the workforce. Helping Beach Mold & Tool, Inc., apply for tax abatements, which supports the company’s growth right here and allows them to continue offering employment opportunities to the citizens of this region. We congratulate Beach Mold & Tool, Inc., on their expansion and are proud this benchmark announcement is partnered with the growth of a hometown company.”
About Beach Mold & Tool, Inc.
Founded in 1972 by William H. Beach and his wife Juanita, Beach Mold & Tool, Inc., is privately held and has established itself as a premier manufacturing entity with expertise and core competencies lying in plastic injection molding technologies. Beach Mold & Tool, Inc., also specializes in precision tool making and has evolved to processing completed assemblies for a global customer base.
Strategically headquartered in New Albany, Indiana and with a location in Emporia, Virginia, Beach Mold & Tool, Inc., operates more than 725,000 square feet and over 180 injection molding machines from its plants. Both facilities are supported by an in-house tool shop located in New Albany, Ind. For more information on Beach Mold & Tool, Inc.: www.beachmold.com.
About One Southern Indiana:
One Southern Indiana (1si) was formed in July of 2006 from the Economic Development organization serving Clark and Floyd counties and the Chamber of Commerce. 1si’s mission is to provide the connections, resources and services that help businesses innovate and thrive in Southern Indiana / Louisville metro area.
Since its inception, the organization has evolved to include a three-prong approach to serve its members and investors. Business Resources, as the chamber side of the organization, encompasses membership, signature events and programs which support and encourage business growth; Economic Development works to grow the regional economy through the attraction of new commerce and assists with retention and expansion of existing businesses; Advocacy supports businesses at the government level by engaging in the initiatives to preserve, protect and promote a business friendly environment free of obstacles to growth and development of commerce. For more information on One Southern Indiana: www.1si.org.
MEDIA CONTACTS:
Beach Mold & Tool, Inc. – Dale Yost, 812.945.2688; Dale_Yost@Beachmold.com
One Southern Indiana - Suzanne Ruark, 812.206.9050; suzanner@1si.org
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