Statement as issued Thursday by the Indiana Economic Development Corp.:
COLUMBIA CITY, Ind. (Sept. 19, 2013) – Breyden Products, Inc., a manufacturer of lacing tapes, twines and yarns for the military and aerospace industries, announced plans today to expand its headquarters here, creating up to 23 new jobs by 2016.
The company, which relocated its headquarters here from Hesperia, Calif. in 2004, will invest $2.2 million to purchase and equip a 35,000 square-foot facility on six acres in the Park 30 Business Center, a state certified shovel ready site in Whitley County. The expansion, which will be complete by the end of the year, will allow Breyden Products to expand production while maintaining its existing Columbia City facility.
"Indiana companies are a key component to the supply chain serving our military," said Eric Doden, president of the Indiana Economic Development Corporation. "As an important supply producer for aerospace clients, Breyden Products demonstrates the power of the Indiana economy helping to protect our servicepersons at home and overseas. I'm proud that with our pro-growth business environment, Indiana is a state that works for our country."
Breyden Products, which currently employs nearly 40 Hoosiers in Columbia City, plans to begin hiring for manufacturing positions by the end of the year.
"Indiana has been a wonderful place to have a business," said Mike Zuber, co-owner and vice president of sales of Breyden Products. "Our economic development groups here in Whitley County and with the state are true partners and constantly look for ways for us to save money, help grow our business and ultimately hire more employees. We value our relationship with them."
Founded in 1991, Breyden Products produces mil spec lacing tapes, twines and yarns, which are used to secure and protect wire harnesses in electrical systems for aerospace clients such as Boeing, Lockheed-Martin, Rolls-Royce, General Electric, Daimler-Chrysler Aerospace and British Aerospace. The company also manufactures cords, fiberglass tape, silicone tape, surge rope and cotton to produce electrical motors and transformers. With annual sales totaling more than $10 million, the company is actively seeking to enter new markets and acquire additional operations.
The Indiana Economic Development Corporation offered Breyden Products, Inc. up to $100,000 in conditional tax credits and up to $25,500 in training grants 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. Whitley County approved additional tax abatement at the request of the Whitley County Economic Development Corporation.
"On behalf of Whitley County, congratulations to the team at Breyden Products on reaching the milestone this project represents," said George Schrumpf, president of the Whitley County Board of Commissioners. "It is gratifying to see a company that moved to Whitley County nearly 10 years ago continue to expand in our community."
About Breyden Products
Breyden Products, Inc. manufactures a complete line of military specification lacing tapes, twines and cords. We also produce a variety of commercial grade lacing and tying materials along with a broad range of sleevings and braiding yarns utilized in the aircraft/aerospace and wire harnessing industries. Our customers include many of the industries' leading manufacturers including Boeing, Lockheed-Martin, Rolls-Royce, General Electric, Daimler-Chrysler Aerospace, British Aerospace and many others.
In addition, we manufacture a broad range of braided or twisted tapes, cords and twines utilized in the electric motor industry for lacing stators. We have also recently introduced a line of medium weave fiberglass tapes used for wrapping coils in the motor and transformer industries. Once again, our customers include many industry leaders including Emerson Electric, General Electric, Baldor, Fasco, and Marathon Electric. For more information about Breyden Products, visit www.breydenproducts.com.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.