Source:
Indiana Economic Development Corporation press release, 4/23/14
PHD, Inc., a supplier of automation components for manufacturers worldwide, announced plans today to expand its operations here, creating up to 22 new jobs by 2017.
The Fort Wayne, Ind.-headquartered company will invest $4.18 million to equip its 76,000 square-foot production facility in Huntington. With new equipment expected to be installed this month, the company plans to begin insourcing production of multi-axis CNC machined parts.
“Building and maintaining an affordable business climate is a top priority in the Hoosier State,” said Eric Doden, president of the Indiana Economic Development Corporation. “Through years of hard work and careful planning, we have established Indiana as a place where companies like PHD, Inc. can launch and grow long-term plans with confidence.”
PHD, Inc., which currently employs approximately 285 full-time Indiana associates, including 105 in Huntington, plans to begin hiring for CNC machinists and programmers later this month. Interested applicants may apply by contacting PHD, Inc.’s human resources department at 260.356.0120, extension 694.
“PHD, Inc. has a long and successful history in developing and manufacturing high quality, long life, industrial automation components in Indiana. PHD, Inc. has developed a long-term strategic plan for growth and we are excited about the opportunities to partner with the state and Huntington County,” said David French, vice president of operations at PHD, Inc. “Our employees have developed excellent manufacturing, CNC machining and assembly skills that are required to compete in the global marketplace. We look forward to the growth of our business and the opportunity to add new multi-axis machining capabilities and additional employment opportunities in our community.”
Founded in 1957, PHD, Inc. launched with the development of a new pneumatic cylinder in a downtown Fort Wayne garage. Since then, the company expanded to produce automation components for industries including automotive, food and beverage, industrial printing and medical equipment, allowing PHD, Inc. to help their clients improve their manufacturing processes. PHD, Inc. currently plans to add eight to 12 new product lines to its Huntington facility, which began production in 1973. With the goal of growing sales to reach $80 million by 2018, the company also serves international markets with an additional facility in Baesweiler, Germany.
The Indiana Economic Development Corporation offered PHD, Inc. up to $150,000 in conditional tax credits and up to $35,000 in training grants 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. Huntington County approved additional incentives at the request of Huntington County Economic Development.
“The Huntington County Board of Commissioners is always excited about the chance to help a company grow in Huntington County," said Larry Buzzard, president of the Huntington County Board of Commissioners. "We are very proud of PHD, Inc. They are an excellent corporate citizen. I really appreciate the collaboration among the economic development team at the state and county levels to help make this a reality. This project is an excellent opportunity for Huntington County and a perfect example of
how we can help existing manufacturers grow."
The Hoosier State ranks as the top place in the Midwest for companies to grow by business publications such as Chief Executive and Site Selection. Indiana also finished as best in the Midwest in the Tax Foundation’s 2014 Business Tax Climate Index. With the state’s affordable climate, businesses find just the environment they need for growth in Indiana.
About PHD, Inc.
PHD, Inc. is a leading manufacturer of industrial automation actuators, designed to help companies across all industries optimize their manufacturing processes. Our products consist of a full line of cylinders, escapements, grippers, linear slides, rotary actuators, clamps, multi-motion actuators, switches and sensors. These actuators provide the fundamental motion to push, pull, lift, rotate, turn, grip, reach, clamp, hold, position, escape, insert, load, unload, pick, place, and orient parts or materials in your manufacturing processes. Known for robustness, precision, and extremely long life, PHD, Inc. products have the attributes and performance design engineers demand. For more information, visit www.phdinc.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.