BLOOMIGTON, INDIANA — Circle-Prosco, Inc., a leading manufacturer of specialty chemicals for the metal finishing industry, has decided to expand its current operations into a new location in Bloomington, adding 11 new jobs by 2015.
A Bloomington-based employer, Circle-Prosco, Inc. plans to invest $4.3 million at the new facility, including new machinery and equipment, computer hardware and building improvements. The company produces aluminum and steel coating, lubricants, aqueous cleaners and rust preventatives.
“Circle-Prosco is a home-grown advanced manufacturer and we are thrilled that they have chosen to expand their employment and renovate a vacant industrial building in Monroe County,” said Ron Walker, President of the Bloomington Economic Development Corporation (BEDC). “Our economic impact estimates predict that this expansion at Circle-Prosco will help support nine households and over $450,000 in personal income from the combined direct and indirect employment impacts,” said Walker.
“Circle-Prosco is pleased to expand in Monroe County and build upon the over 40 years of growth and innovation that have enabled us to become a leader in the specialty chemicals business,” said Doug Parker, President of Circle-Prosco, Inc. “We look forward to continued growth and success and remaining a Monroe County manufacturer.”
The Indiana Economic Development Corporation offered up to $60,000 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.
“Having a homegrown company like Circle-Prosco continue to find success in our state speaks volumes about Indiana’s business climate,” said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. “Our state provides these firms with the right sets of tools and support to promote organic, sustainable growth.”
About Circle-Prosco, Inc.
Started in 1971, Circle-Prosco, Inc. specializes in the research, development and manufacture of a broad range of environmentally friendly products used in the metal finishing industry. Products include various coatings for aluminum and steel, along with aqueous cleaners, lubricants and rust preventatives. Circle-Prosco is QS-900/ISO-9000 certified.
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as 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.
The BEDC is a not-for-profit organization dedicated to the retention, development and attraction of quality jobs in Monroe County. The BEDC is led by a partnership of private industry leaders, the City of Bloomington, Monroe County, Indiana University and Ivy Tech Community College–Bloomington. For more information click here www.comparebloomington.us.
Doug Parker (Circle-Prosco) – 812-339-3653
Ron Walker (BEDC) – 812-335-7346 or firstname.lastname@example.org
Katelyn Hancock (IEDC) – 317-234-2294 or email@example.com