The company which processes and distributes steel, tubing and hot rolled coil, will invest more than $10 million to construct a new 170,000 square-foot distribution center at the newly established Rail Connect Business Park east of Columbia City.
“Triad’s decision to locate its newest distribution center here is a victory for northeast Indiana,” said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. “Once again, Indiana’s low cost of doing business and logistical infrastructure is proving to be a valuable tool in attracting new competitive investment.”
Triad, which will begin construction on the new facility by the end of 2010, plans to begin hiring processing, distribution and supervisory associates in the first quarter of 2011. The Whitley County Redevelopment Commission is moving ahead with infrastructure improvements and site development at the Rail Connect Business Park concurrent to the Triad project. Rail Connect Business Park will be a 120 acre, publicly owned industrial park with rail and highway access near the intersection of US 30 and County Road 600 East.
“The Whitley County Redevelopment Commission moved quickly to develop a rail-served site to support the Triad Metals project,” said Redevelopment Commission chairman Bill Overdeer, “Rail Connect Business Park will stand apart as a publicly owned, development ready industrial park with rail and four-lane highway access.”
“Factors such as proximity to customers, access to road and rail infrastructure, and workforce made Indiana an attractive location,” said Ronald J. Hammond, chief executive officer of Triad Metals International, “but the ongoing dedication of the state and local officials I have worked with set Indiana apart as a place to do business.”
Established in 1987, Triad has grown to distribute more than 250,000 tons of steel each year to consumers throughout the Midwest and eastern United States. The Pittsburgh-headquartered company operates additional processing facilities in Pittsburgh and Horsham, Pa.; Petersburg, Va., and Masury, Ohio.
The Indiana Economic Development Corporation offered Triad Metals International up to $340,000 in performance-based tax credits, based on the company’s job creation plans. Whitley County today approved additional property tax abatement at the request of the Whitley County Economic Development Corporation.
“This announcement demonstrates Whitley County’s ongoing commitment to work proactively with new and existing employers,” said Whitley County Board of Commissioners chairman Michael Schrader, “Our local leaders will continue to work closely with Triad and other growth oriented companies to support the creation of new jobs and investment in our community.”
Indiana was recently ranked sixth nationally – and tops in the Midwest – in Area Development magazine’s “Top States for Doing Business” ranking. Indiana ranks near the top in five of eight categories important to site selection consultants, including second nationally for infrastructure, third for labor climate, fourth for fast-track permitting, fifth for lowest business costs, and fifth for business friendliness. The ranking was based on a survey of leading national site selection consultants.
For more information about the EDC, visit www.whitleyedc.com.