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 Economic Development News 
Friday, November 07 2014

New Albany, IN -- S&J Precision, Inc., a complete machine shop service company, announced plans today to expand its operations here, creating up to 23 new jobs by 2018.
 
The homegrown-Hoosier company will invest $3.6 million to construct and equip a new 48,000 square-foot facility in New Albany. The facility, which will be fully operational by August 2015, will allow the company to expand its current machining, injection molding and engineering and design operations, as well as explore other business opportunities from existing and new customers.
 
“Precision and execution is what separates the best from the rest,” said Eric Doden, president of the Indiana Economic Development Corporation. “Indiana has created an environment for businesses to thrive with a strong infrastructure, business-friendly taxes and a workforce ready to tackle any challenge. S&J Precision grew out of the bold execution of two entrepreneurs, the support of the local community and the skill of the Hoosier workforce. That’s what’s possible in a state that works.”
 
S&J Precision, which currently employs 34 full-time Indiana associates, plans to begin hiring CNC programmers, machine builders and engineers immediately. Interested applicants may apply by sending resumes to jwallace@sandjprecision.com.
 
“We decided to stay in southern Indiana because of the support from One Southern Indiana, the city of New Albany and the state of Indiana,” said Sheila Wallace, president of S&J Precision. “We felt like they all considered us as a valuable asset to the community and truly wanted us to be here. We have built the company with the strong work ethic of the people in this area and we feel like a part of the community.”
 
Founded in 1990, S&J Precision is a complete machine shop service company, offering services in manual and production machining, laser cutting, prototype work, jigs and fixtures, welding and automation and machinery building. Originally beginning operations in Steve and Sheila Wallace’s two-car garage, in 1996 the company’s rapid growth allowed them to purchase a 16,000 square-foot facility. The company then expanded its existing facility to 25,000 square feet in 2005, also adding a second 9,000 square-foot building. With its continued growth, its newest facility will allow for an expansion of up to 100,000 square feet in the future.
 
The Indiana Economic Development Corporation offered S&J Precision, Inc. up to $100,000 in conditional tax credits based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. Floyd County will consider additional incentives at the request of One Southern Indiana.
 
“The city of New Albany applauds S&J Precision for its growth here in our community,” said New Albany Mayor Jeff Gahan. “Each time a company expands it is further proof of our increasing economic base and thriving employment opportunities. We celebrate the success of S&J Precision.”
 
Earlier this year, Indiana placed its corporate income tax on a reduction schedule, which will ultimately fall to 4.9 percent. Along with enhanced abatement tools for communities, Indiana is reforming taxes to encourage small businesses like S&J Precision to growth and thrive.

About S&J Precision
S&J Precision, Inc. was founded in 1990 by Sheila and Steve Wallace in a two car garage at their residence in New Albany, IN. Since that time, they have expanded four times, continuously adding quality services of value to their customers. They are now a complete machine shop with laser cutting services and automation equipment.
 
At S&J Precision no job is too large, too small or too demanding. From prototype to production, they can meet your specific needs employing a wide variety of materials, from plastics to stainless steels.  If you need prototype work to get a new product online, their inventory of materials and in-house heat treat facilities let their professionals provide you with the quick turnaround you need.

 
For more information, see their website at www.sandjprecision.com
 
About IEDC
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.

The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
 
Media Contacts:
Steve Wallace (S&J Precision) – 812.944.9368 or swallace@sandjprecision.com
Katelyn Hancock (IEDC) – 317.234.2294 or kahancock@iedc.in.gov

Posted by: Expansion Solutions Magazine AT 08:38 am   |  Permalink   |  Email

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