BOURBON – After sitting vacant for several years, the 75,000-square-foot industrial facility on Center Street in Bourbon, known as the Reynold’s Building, will soon have new occupants.
Indiana Composites LLC will move into the facility to establish Bourbon as an industrial center for the business, resulting in job creation and a new industrial base for the Town, according to a press release this morning from Marshall County Economic Development Commission.
Indiana Composites plans to invest approximately $3 million in the purchase and setup of new machinery, and another $790,000 in renovating the facility. This capital investment will create approximately 198 jobs with an average wage of $18 per hour, strengthening the local economy, the release states.
Indiana Composites manufactures open and closed molded fiberglass components for the marine, RV and specialty vehicle markets. The new venture is a wholly owned subsidiary of IMP Holdings LLC which manufactures panels, dash assemblies and wiring harness and provides integrated assemblies for the marine industry.
The announcement was made this morning at a press conference in Bourbon, attended by town, county and state leaders. The Town of Bourbon and the Marshall County Economic Development Corporation organized the announcement. A follow-up story on the press conference will appear in Wednesday’s edition of the Times-Union.
Indiana Composites CEO Mike Peters expressed excitement about taking ownership of the Reynold’s Building and beginning operations in Bourbon.
Peters is quoted in the press release as stating, “Indiana Composites will adopt IMP Holdings’ values of customer-focused quality at the front of the process and respect for all associates to satisfy its customers. By utilizing a well-trained workforce, state of the art technology, and well-defined processes we aim to deliver high quality parts to the customer the first time.”
The MCEDC is the lead countywide economic development organization servicing Marshall County, the City of Plymouth and the towns of Bremen, Bourbon, Argos, Culver and LaPaz. MCEDC’s mission is to expand and diversify the economy of the county and its communities by fostering investment in new and existing businesses and creating entrepreneurial capacity. Visit MCEDC on the web at www.marshallcountyedc.org, like it on Facebook and follow it on Twitter.
