Appliance molder Revere Plastics considering new plant in Indiana
CLYDE, OHIO (Updated Aug. 12, 1:30 p.m. ET) — Revere Plastics Systems LLC — a major appliance injection molder — plans to open a production site in Jeffersonville, Ind., if the firm receives incentive packages from both the city and state.
The Jeffersonville Redevelopment Commission gave preliminary approval to a five-year tax abatement for the project on Aug. 10. The abatement now needs final approval from Jeffersonville City Council on Aug. 15.
Jeffersonville is one of two locations being considered for a new production site in the greater Louisville, Ky., area, RPS Chief Financial Officer Jim Crews said in an Aug. 10 news release.
Officials with Clyde, Ohio-based RPS “are moving quickly to finalize a site, and anticipate beginning production this year,” he said in the release.
The proposed production plant would create 178 new jobs and would occupy an existing 122,000-square-foot facility. RPS would invest $13.4 million in the project, and also may receive a $200,000 training grant from the city.
The new site is needed because of opportunities with current and new customers in the Louisville area, officials said. RPS has worked with development firm One Southern Indiana in its efforts to locate in Jeffersonville.
The Louisville area is attractive for plastics work because of the presence of two Ford Motor Co. plants and a large appliance complex operated by General Electric Co., according to Nick Lawrence, senior business development director with One Southern Indiana. New Albany, Ind.-based OSI represents more than 1,200 businesses in the area.
Lawrence added in an Aug. 12 phone interview that Jeffersonville City Council is expected to approve the tax abatement for RPS, saying that OSI “is pretty positive on it.” The abatement would be 100 percent in its first year and would gradually reduce.
“Incentives were a big part of this deal,” Lawrence said. “We’re happy to have these jobs, especially in a time like this.”
Officials with RPS could not be reached for comment. The firm also is seeking job credits and a training grant from the state of Indiana.
RPS claims to be the largest supplier of plastic injection molded parts for the U.S. appliance industry, operating plants in Clyde, as well as in Missouri and Ontario. The firm — a unit of Revere Industries of Indianapolis — ranked as North America’s 51st-largest injection molder in a recent Plastics News ranking, with annual sales estimated at $120 million.