2013 FIN – Cold Heading Co. Expanding Indiana Fastener Plant
September 10, 2013 FIN – An Indiana fastener manufacturing plant will be expanded by 20,000 sq ft in a $5.2 million expansion plus equipment purchases that will result in five jobs, the Steuben County Economic Development Corp. announced.
The Cold Heading Company, which currently has 49 employees in Hudson, IN, will invest $950,000+ in expanding its 77,000-square-foot facility and $4.2 million in equipment.
The Hudson plant was acquired by Michigan-headquartered Cold Heading Company in 1996. Two other Steuben County facilities totaling 196,000 sq ft were acquired in Fremont in 1998 and 1999.
Hudson has a population of 518 in the 2010 census. Steuben County is in the northeast corner of Indiana bordering on Ohio and Michigan.
The company manufactures fasteners for the automotive, agricultural and heavy construction industries.
The Hudson Town Council has approved a 10-year tax abatement for the expansion and equipment purchases.
“Steuben County and Indiana provide our company a competitive location where we can easily reach our customers in less than a day’s delivery time,” Greg Stevens, owner of Cold Heading, told the Fort Wayne Business Journal.
“Steuben County and Indiana provide our company a competitive location where we can easily reach our customers in less than a day’s delivery time. We’ve found a reliable workforce and the communities of Hudson and Fremont are happy to help with the tax phase-in program,” Cold Heading owner Greg Stevens said.
Hudson town council president Kathy Kope said the city is “happy to work with The Cold Heading Company by offering tax abatement. They are a valued employer and Hudson wants the company to be competitive and profitable.”
The town council approved a 10-year abatement for the real estate improvements and new machinery. Over the next decade, the company is expected to pay $185,000 more in property taxes vs. savings over the 10-year period of $230,000. The payroll is projected to exceed $1.8 million per year, according to the Steuben County Economic Development Corp.
The Hudson plant is located at 103 W. State Rd. 4, Hudson, IN 46747-9433. Tel: 260 587-3231
Founded in 1912, Cold Heading includes Ajax Metal Processing of Detroit and Wolverine Carbide & Tool of Troy, MI. Cold Heading is family owned and headquartered at 21777 Hoover Rd., Warren, MI 48089. Tel: 586 497-7000 Email: chsales@coldheading.com Web: coldheading.com ©2013 GlobalFastenerNews.com
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