Armor Plastics LLC, a newly established plastics coating company specializing in aftermarket ATV parts and other hard-coating and plastics products, is launching operations in Madison, Ind.
The company announced Feb. 8 it plans to invest $13.4 million in a 145,000-square-foot facility and create up to 30 new jobs over the next few years. The investment total includes the purchase of the building, facility upgrades and additional equipment costs.
The facility will serve as Armor Plastics' corporate headquarters and also will house manufacturing operations for its patented coating technology used for door panels, windows and windshields on all-terrain, utility and other recreational vehicles.
The 28.5-acre site is expected to be operational by 2023. Starting this summer, Armor Plastics said it will hire for positions in customer service, operations, maintenance, and shipping and receiving.
Armor Plastics is a joint venture between aftermarket ATV and UTV parts company SuperATV LLC and Ohio businessman Tom Faris. SuperATV is also based in Madison.
A spokesman for Armor Plastics declined to comment for this story.
The Indiana Economic Development Corp. offered Armor Plastics up to $210,000 in performance-based tax credits contingent on job creation. IEDC also offered the company up to $2.6 million in conditional tax credits from the state's Industrial Recovery Tax Credit program, which provides incentives to invest in former industrial sites.
The Madison facility was built in 1946 by Williamson Metal Works and later acquired by the Armor Group Inc. in 1999, according to a news release. The building has been vacant since 2009.
“I'm so grateful to the city of Madison, Jefferson County Industrial Development Corp. and the IEDC for pursuing this partnership to bring more jobs and investment to southeast Indiana,” Harold Hunt, founder and president of SuperATV and partner at Armor Plastics, said in a statement. “We believe the future of Madison and Indiana is bright, and we're excited to grow here for years to come.”
