A startup boating industry supplier plans to set up shop in Milford, creating up to 75 new jobs by 2023.
Williamsburg Marine will invest more than $1 million to equip a 30,000-square-foot building on Old State Road 15 to produce marine interiors and related components and accessories. The company is already working with a network of mid- to upper-end marine customers and plans to be operational in Milford by mid-fall, the Kosciusko Economic Development Corp. said Tuesday in a news release.
Karen Weaver, Williamsburg Marine's general manager, said the leadership group has more than 30 years of experience in the industry.
“We are excited to start our operations in Milford and to become a leading employer in the community,” she said in a statement.
Elaine Bedel, president of the Indiana Economic Development Corp., said the state loves “to see companies like Williamsburg Marine choose Indiana to start and scale operations.” She said the “business climate and talent pipeline” should allow the company to thrive in Kosciusko County.
The IEDC offered Williamsburg Marine up to $750,000 in conditional tax credits based on the company's job creation plans, the news release said. The tax credits are performance-based, meaning the company is not eligible to claim incentives until after state residents are hired.
The types of jobs and wage information was not immediately available Tuesday afternoon.
Alan Tio, CEO of the Kosciusko Economic Development Corp., called Williamsburg Marine a “high growth potential company.”
The Milford Redevelopment Commission has approved a training grant of up to $50,000 in lieu of tax abatement to reimburse the company for the costs of training new employees.
“This announcement reaffirms our belief that Milford is great location between Goshen and Warsaw to start and grow businesses,” said Dan Brown, chairman of the Milford Redevelopment Commission, in a statement.