Beach Mold & Tool Inc. will spend $23.3 million to expand its operations at its New Albany, Ind. headquarters and will create up to 160 new jobs by 2019.
The injection molding and precision tool manufacturer will construct a new 140,000 square-foot warehouse adjacent to its existing 490,000 ft2 manufacturing and assembly facility in the New Albany Industrial Park.
“As a result of our skilled and dedicated workforce in New Albany, we have seen sales growth from our existing customers,” said William Beach, owner and CEO of Beach Mold & Tool. “We are fortunate to have an opportunity to provide parts and assemblies for a new program by a current customer, which will require us to expand warehousing, manufacturing space and employment. The city of New Albany, the Indiana Economic Development Corporation and One Southern Indiana have been highly supportive of this aggressive expansion and we appreciate their assistance.”
The new warehouse is expected to be complete by July 2016 and will allow the company to convert space at the existing facility to increase its manufacturing capabilities. The investment will also be used to purchase several large injection molding presses and to update existing equipment for energy and technology updates.
As an incentive, Indiana Economic Development Corporation offered Beach Mold & Tool up to $1.25 million. The city of New Albany will consider additional incentives at the request of the One Southern Indiana.
The company, which currently employs 603 Indiana residents and 665 total associates in New Albany, has already begun hiring. Interested applicants may apply at www.beachmold.com/jobs.htm.
Established in New Albany in 1972, Beach Mold & Tool is a privately-held company that manufactures plastic injection molding and precision tools for automotive manufacturers, automotive part suppliers, medical component suppliers, business technology enterprises and consumer product suppliers. Founded by William and Juanita Beach, the company has an additional facility in Emporia, Virginia, together operating more than 160 injection mold machines.