By: Delaware County Economic Development—
Delaware County, IN—Delaware County and the State of Indiana are proud to welcome INOX Market North America (IMNA) a subsidiary company of INOX Market Service (INOX) an Italian based stainless steel slitting and forming company. The company plans to locate its new North American headquarters in Delaware County. IMNA will invest over $15 million in machinery and construction of a new 139,800 square foot facility. INOX is a world leader in the cutting and forming of stainless steel. The company, which is headquartered in the Province of Padua in northern Italy, has existing production sites in Europe, Mexico and India. IMNA will provide cut to size stainless steel to several industries including large appliance manufacturers, elevator and escalator companies, and the industrial and franchise cooking industry.
County Commissioner James King and the County’s Economic Development team led the efforts to introduce Delaware County to the decision makers at IMNA. Efforts began in 2019 when Commissioners King, Shannon Henry and other officials met with the IMNA site selection team at a trade show. Officials subsequently invited IMNA to visit Delaware County and in return a delegation traveled to Italy to observe INOX’s existing operations first hand.
Commissioner King stated, “Our efforts to seek a company that will be a good fit for our community are highlighted with the announcement of the IMNA headquarters locating in Delaware County. First we built the relationship, second we confirmed that the company would be right for our community, and third we went the extra mile to make sure we assisted them with every single detail of making their transition to the United States.”
IMNA plans to open its new headquarters in the spring of 2021 and anticipates its manufacturing operations reaching full capacity in January of 2022. As part of its growth, the company plans to create over one hundred new, high-wage jobs in Delaware County. The company will soon begin the selection of personnel in various areas of expertise necessary for the start up.
Federico Sbettega INOX BOD Member/Owner said, “We looked at multiple locations within the United States and after meeting Commissioner King and the Economic Development team in Delaware County, we quickly recognized that their organization and personalized support exceeded that of many state government organizations. IMNA wants to be part of a welcoming community and we value seeing communities investing in themselves; and that’s exactly what we saw from the leaders in Delaware County.”
Established in 1989, INOX Market Service is the parent company of the multinational INOX Market Group. The company’s line of business includes the forming and wholesale distribution of steel and specialty steel products. Being a world leader in stainless steel, the IMNA facility in Delaware County will receive raw roll stainless steel coils and then cut and form the steel for specific use by various industries. IMNA will deliver only top quality class A austenitic, ferritic and low nickel stainless steel in multiple diameters.
Maurizio Tamborin, INOX Founder and Global Sales Manager said, “We remain excited about the opening of our first facility in North America. Of all the locations that we looked at in the U.S., no one came close to offering us the level of personal service that the Delaware County Commissioners and Brad Bookout offered. We’re truly grateful to be working closely with them and the location in Delaware County will be perfect to serve our customers.”
Brad Bookout, Delaware County’s Director of Economic Affairs said, “As manufacturing changed over the last few decades, local communities lost large segments of their tax base as facilities were shuttered and ultimately demolished. Now more than ever, elected officials are needing to replace that critical portion of the tax base with new facilities that meet the community’s criteria for good environmentally conscious industries that also desire to be a part of the community. Delaware County is fortunate to find such a partner with IMNA.”
Stainless steel has little disturbance on the environment when compared to other industrial processes. Impacts to air, soil, groundwater as well as the life impact of stainless steel are lessened as it is a 100% recyclable product. Stainless steel has high corrosion resistance and is known as a product to be used in applications where maintaining clean surfaces such as kitchens and public spaces is a high priority.
“Today’s announcement is an encouraging sign of positive economic momentum in our state,” said Governor Eric J. Holcomb. “As we safely and responsibly reopen, we are committed to working together with local and regional partners to provide the resources businesses – large and small – need to grow and get back on track. We are grateful for INOX Market Service choosing to establish its North American headquarters in the Hoosier state, and we remain confident that Indiana’s skilled workforce and business-friendly environment will support the company’s growth for years to come.”
The Indiana Economic Development Corporation (IEDC) offered IMNA up to $1.1 million in conditional tax credits based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The Delaware County Industrial Development (CREED) Board’s incentive package is pending. CREED funds are earmarked to assist industrial development as companies over time hit benchmarks with the construction of their facility.
IMNA has selected Briner Buildings to complete the development. Briner is a design/build general contractor that provides full-service construction management throughout Indiana. Having constructed the current MidWest Metal’s building on Cowan Road and the 50,000 square foot WESCO building in Daleville, Briner has experience working with local trades in Delaware County. Briner plans to utilize local labor on this job as well. For information, see www.brinerbuilding.com
About IEDC
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, focusing on helping companies grow in and locate to the state. Governed by a 12-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, public infrastructure assistance, talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov
About Delaware County Economic Development
In 2015 the Delaware County Commissioners privatized the County’s economic development activities. Since that time, the County has developed its own business retention and expansion programs that are in constant contact with the multitude of industry within the County. In addition, efforts to identify and attract various suitable industry throughout the world are undertaken on an annual basis. For more information, contact Brad Bookout at bbookout@ecirpd.org.
