Chesterton Tribune


State gives company tax credits to expand in Valpo

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Lt. Governor Becky Skillman joined executives on Tuesday from Paul Wurth Inc., an international steel and iron engineering manufacturer, to announce the company's plans to expand its operations in Valparaiso, creating up to 40 new jobs by 2018.

A subsidiary of the Luxembourg-headquartered Paul Wurth S.A., the company has invested $3.6 million to purchase, renovate, and equip a 55,000 square-foot facility located at 2800 E. Evans Ave. The new location, which opened its doors in May of this year, specializes in the sale of new spare parts and the reconditioning of used parts for blast furnaces.

“Northwest Indiana's steel and engineering industries receive an added boost with the expansion of Paul Wurth,” Skillman said. “With this announcement, Indiana has once again proven its competitiveness not only in the domestic market, but in the global market as well.”

“The company needed to expand its service operations, which focuses on servicing its equipment used in area steel mills,” said Romain Frieden, president of Paul Wurth. “We have found a majority of our customers are located in the Northwest Indiana area. Therefore, we opened our shop in the area where most of the blast furnaces and plants are located. This, along with Indiana's infrastructure of highways, railways and air transportation, makes this state an ideal area for us to be located.”

The Indiana Economic Development Corporation offered Paul Wurth up to $400,000 in conditional tax credits 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. The city of Valparaiso also supports this expansion.

“We are very pleased that this international engineering company has chosen to invest in Valparaiso,” said Valparaiso Mayor Jon Costas. “Paul Wurth has a long history of providing technological expertise in the steel industry, specifically for blast furnaces; these are good jobs and we couldn't be happier to welcome them into our city. They are moving into an existing building in Valparaiso, one that housed Task Force Tips for many years—it's a great building and offers Paul Wurth a solid foundation to be successful.”



Posted 9/19/2012