Statement as issued Tuesday by the Indiana Economic Development Corporation:
COLUMBIA CITY, Ind. (April 8, 2014) – PDQ Tooling, an indexable cutting tool manufacturer for the production machining industry, announced plans today to locate operations here, creating up to 45 new jobs by 2019.
"From agriculture to automotive, information technology to biotechnology, Indiana continues to be a state that works for businesses across the industry spectrum," said Eric Doden, president of the Indiana Economic Development Corporation. "Homegrown-Hoosier companies like PDQ experience firsthand the advantages of doing business in Indiana, and we remain committed to building upon our strong workforce, robust infrastructure and low tax policies."
The homegrown-Hoosier company, which shares ownership with Columbia City, Ind.-based PDQ Workholding, will invest $7.2 million to lease, renovate and equip a 17,000 square-foot facility located at 1100 S. Williams Drive in Columbia City. With operations expected to commence this June, PDQ plans to begin hiring assembly, engineering, administrative and machining positions later this year. Interested applicants may apply by emailing email@example.com.
"After exploring our options, we are excited to once again say that Indiana is the place for PDQ's latest operations growth," said Jerry Busche, owner of PDQ. "With increasing demand for our product, we needed an environment that would help us succeed and one element that has helped boost our success is Indiana's outstanding business climate. Through the hardwork of our employees and the dedication to making the best products available, we look forward to continuing on our success here."
Founded by Busche, PDQ Tooling designs and manufactures custom indexable cutting tools for the production machining industry. It serves regional and global customers and synergizes with PDQ Workholding.
The Indiana Economic Development Corporation offered PDQ Tooling up to $300,000 in conditional tax credits based on the company's job creation plans. These incentives 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 EDC.
"On behalf of the Whitley County Commissioners and Council, we would like to thank Jerry Busche and his team for launching PDQ Tooling in Whitley County," said Whitley County Commissioner George Schrumpf. "This announcement demonstrates once again how Whitley County works to support the launch of new business ventures."