Shelbyville, Indiana — Agricultural equipment manufacturer Krone North America has announced plans to relocate its headquarters to Shelbyville, IN, and also build a new distribution center, showroom and training facility in Shelbyville.
Supported by state tax credits, an infrastructure assistance grant and City of Shelbyville economic development incentives, the company will invest $12.5 million to construct a 200,000-square-foot facility on 40 acres of undeveloped land.
While most of the space will be used for distribution and showroom facilities, the new facility will also house approximately 20,000 square feet of office space to accommodate Krone’s corporate headquarters team.
The project will bring 101 new high-wage jobs to Shelbyville and Indiana by 2021. These are jobs with average salaries that will be nearly double the state’s average wage. Krone will start hiring next year once they know how many of their current employees in Memphis will be relocating to Indiana.
Krone North America, which distributes German manufactured performance-engineered equipment for the hay and forage industry, is a part of Spelle, Germany-based Bernard Krone Holding GmbH & Co. KG. The company was founded in Germany in 1906, and Krone North America was established in Memphis in 1973. Still owned by the Krone family, the company now employs more than 4,500 associates globally, including 160 in the United States.
Tommy Jones, president and chief executive officer of Krone North America, said in a statement that “In our search we were very impressed with the commitment and teamwork of the community and the state in helping us make this decision.” Jones added that the culture of Krone aligns very well with that of Shelbyville.
Governor Mike Pence said in the release that “I am honored to welcome Mr. Jones and the entire Krone team to the Hoosier state, and look forward to growing the company’s future together.”
Shelbyville Mayor Tom DeBaun highlighted the cooperation between the City, Shelby County Development Corporation and other partners that helped secure the project.
“The units of local government along with the Shelby County Development Corporation worked tirelessly to secure this opportunity and had input from a number of other agencies and organizations within the community,” said Mayor DeBaun. “Additionally, the partnerships with the Indiana Economic Development Corporation and the state of Indiana were invaluable in making this a reality.”
IEDC has offered Krone North America up to $1,800,000 in conditional tax credits tied to the company’s job creation plans, and the city will additionally get up to $500,000 in infrastructure assistance from the state’s Industrial Development Grant Fund. Shelbyville economic development incentives for the project are being considered at the request of the Shelby County Development Corporation.
Source: Economicdevelopmenthq.com
