A fast-growing contract manufacturer that makes and packages shampoos, conditioners and hair spray for brand-name companies plans to quadruple its number of employees within the next four years.
Mansfield-King LLC on Indianapolis’ east side is asking the city for property-tax abatements as part of its effort to create 144 jobs by 2016 through a $3 million expansion. The company currently has 45 employees.
Mansfield-King plans to spend $2.5 million on new manufacturing equipment, including mixing, filling and packaging machines, according to city documents.
In addition, the company plans to spend $490,000 to upgrade its 180,000-square-foot plant near East Washington Street and South Kitley Avenue.
The city’s Metropolitan Development Commission is scheduled to hear the company’s request for abatements at its Wednesday meeting. The MDC staff recommends 10-year abatements for both investments.
The company is expected to pay about $153,000 in property taxes during the 10-year period and save $202,263.
Mansfield-King said the 144 jobs it plans to create will pay an average wage of $22 an hour.
The company has been on a tear since its founding in 2005. Revenue grew 136 percent, from $2.9 million in 2008 to $6.8 million in 2010, placing it 11th in IBJ’s latest ranking of the Indianapolis area’s fastest-growing companies.
Mansfield-King was founded by John Cleary and Charles Haywood. The two graduated from Indiana University in 1990 and met while working for a Chicago law firm.
They moved from mergers and acquisitions there to management jobs with Indianapolis companies to acquiring the assets of Signature Brands Group, a local personal-care manufacturer, in 2005.
They christened their new company Mansfield-King, using names from their maternal grandparents. Cleary is no longer involved in the company.