R3 makes composite bathroom fixtures, automotive parts and shipping containers. The company plans to invest more than $4.5 million to lease and equip the former Meridian Automotive building in Grabill, which has been idle since 2009.
The Indiana Economic Development Corporation offered R3 Composites up to $2 million in performance-based tax credits and up to $50,000 in training grants based on the company's job creation plans.
"This makes me very optimistic about job growth and expansion in Allen County," said Rep. Pond. "Northeast Allen County is an ideal place to do business and R3 has made a great decision by choosing Grabill to establish their new manufacturing center."
Some of the House bills that addressed economic development in Indiana during this past legislative session were: House Enrolled Act (HEA) 1004 increases access to start-up capital for Indiana businesses, in addition to lowering the corporate income tax rate; HEA 1006 promotes economic development locally and regionally; and HEA 1007 allows enhanced abatement schedules and hiring incentives to encourage local job growth.
"It's great to see results from the legislation that was passed this session" said Rep. Pond. "The legislation we enacted this year will hopefully continue to encourage more businesses like R3 to develop and expand in our community."
R3 will be hiring for manufacturing, supervisory, clerical and management positions later this summer in preparation for the start of production. Associates at the Grabill operations will initially produce bathroom fixtures and will eventually include manufacturing composite shipping containers.