Conco Expands into Southern Indiana with New Facility
Conco, a Louisville-based supplier of ammunition containers, is expanding its operations into southern Indiana. The company has announced plans to invest $54.5 million in establishing a facility in Scottsburg, Indiana. This investment includes the purchase of the former Tokusen USA property for $11.5 million, as well as $36 million in new equipment and resources. The expansion is expected to bring 175 new full-time jobs to the area, with an average starting wage of $28 per hour. Conco has been serving the United States Armed Forces since 1967 and specializes in meeting military needs and developing innovative products.
Investment of $54.5 Million to Establish Scottsburg Location
Conco’s commitment to establishing its facility in Scottsburg, Indiana includes a significant investment of $54.5 million. This investment will cover the purchase of the property, as well as new equipment, furnishings, fixtures, hardware, and software. The decision to invest in Scottsburg demonstrates Conco’s confidence in the region’s potential and their commitment to expanding their operations. This investment will not only benefit Conco, but it will also contribute to the economic growth and development of the local community.
175 New Jobs to Be Created at Conco’s Scottsburg Facility
One of the key benefits of Conco’s expansion into Scottsburg, Indiana is the creation of 175 new full-time jobs. These jobs will provide opportunities for individuals in the region to secure employment with a company that has a long-standing relationship with the United States Armed Forces. The average starting wage for these new positions will be $28 per hour, offering competitive compensation for employees. This influx of jobs will not only provide economic stability for the local community but also bring new career opportunities for families in the area.
Conco’s Expansion Driven by Meeting Military Needs and Innovative Products
Conco has been serving the United States Armed Forces since 1967, meeting their diverse military needs and developing innovative products. The company specializes in the production of ammunition containers, including insensitive munitions, rectangular containers, square bell containers, and round bell containers. Conco’s commitment to quality and innovation has enabled them to become a trusted supplier to the military. Their expansion into Scottsburg, Indiana reflects their dedication to meeting the evolving demands of the defense sector and providing solutions that enhance military capabilities.
Indiana’s Defense Sector Continues to Grow with Conco’s Arrival
The arrival of Conco to Scottsburg, Indiana is a testament to the state’s growing defense sector. Indiana Governor Eric J. Holcomb expressed his excitement about Conco joining the network of advanced manufacturers that contribute to and support the United States Armed Forces. The presence of Conco in southern Indiana will further advance new career opportunities in the region, benefiting families for years to come. The Indiana Economic Development Corporation has approved incentive-based tax credits of up to $1.925 million, further demonstrating the state’s commitment to supporting and encouraging the growth of the defense sector.
Conco’s expansion into southern Indiana marks an important milestone for the company and the region. With an investment of $54.5 million and the creation of 175 new jobs, Conco is positioned to contribute to the economic growth and development of Scottsburg, Indiana. Their long-standing commitment to meeting the military needs of the United States Armed Forces and developing innovative products will further enhance their position in the defense sector. As Indiana’s defense sector continues to grow, Conco’s arrival will strengthen the state’s reputation as a hub for advanced manufacturers and patriotic career opportunities.
Analyst comment
Positive news: Conco’s expansion into southern Indiana with a new facility brings a significant investment of $54.5 million and the creation of 175 new jobs. This investment demonstrates confidence in the region’s potential and contributes to the economic growth and development of Scottsburg, Indiana. Conco’s long-standing commitment to meeting military needs and developing innovative products will enhance their position in the defense sector. This arrival strengthens Indiana’s reputation as a hub for advanced manufacturers and patriotic career opportunities. The market is expected to benefit from increased job opportunities and economic growth in the region.
