"Helping companies like GalFab recognize the value of doing business in Indiana is a top priority on day one for Governor Mike Pence. We look forward to celebrating many more announcements across the state as we work to further strengthen the many things we already know: Indiana has a low-cost, business-friendly climate with a talented workforce," said Victor Smith, Indiana Secretary of Commerce.
Recently, GalFab Acquisitions acquired the assets of GalFab, Inc., which had operated in Winamac for the last 20 years. The company will invest $720,000 to lease, renovate and equip the 100,000 square-foot former GalFab, Inc. building. The facility, which is located on 14 acres of land, is fully operational and will continue to produce waste handling equipment.
"With GalFab's long standing history in Winamac, we look forward to continuing our commitment to success in this community," said Greg Podell, chief executive officer of GalFab Acquisitions. "GalFab seeks to provide and design the highest quality product to lead the future of the waste industry, and Indiana has continued to provide a talented pool of workers and business environment to help us achieve this."
Established in 1992 by the Galbreath family, GalFab manufactures products for transportation in the garbage, scrap and steel manufacturing industries including roll-off hoists, roll-off containers, compactors, self-dumping hoppers and securement systems. For the first 20 years, the company was a regional supplier to independent garbage and scrap haulers. Today, GalFab works with and supplies to haulers across the nation.
The Indiana Economic Development Corporation offered GalFab Acquisitions, LLC up to $700,000 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 Winamac approved additional property tax abatement at the request of Pulaski County Economic Development.
GalFab Acquisitions, which will rehire 65 current GalFab, Inc. employees and create up to 20 new positions, plans to begin hiring additional manufacturing positions over the next year.
"The town of Winamac is excited about this merger/expansion of GalFab here in Winamac. GalFab is a business that was started here in Winamac and we are excited to see this opportunity for it to grow and expand here in Winamac," said James Conner, town manager of Winamac. "Retainage and expansion of our existing businesses is as important to us as attracting new ones. We look forward to working with GalFab as they continue to grow in the future."
Located in Winamac, Ind., GalFab is a manufacturer of a full line of waste handling equipment. Our years of solid engineering principles in conjunction with high quality manufacturing processes, and the development of new technology have helped GalFab earn its reputation as a leader in the industry. The people GalFab employs have proven time and time again that a quality output and good service are the keys to success in a time-tested business. GalFab has shown the ability and willingness to design what a customer needs to get the job done. The "standard" off the shelf equipment is always a good product and will fill most customer requirements. However GalFab will, and has, put the pen to the paper to develop something new to help our customers. The future, to GalFab, is as important as the present and the past. GalFab will endeavor to develop new methods and innovative designs to continue to lead the waste industry into tomorrow and beyond.
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 chief executive officer 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.