Indianapolis-based Mansfield-King LLC, a manufacturer and distributor of personal care products, will receive state incentives as part of an expansion plan that could create as many as 144 jobs by 2016, the Indiana Economic Development Corp. announced Friday morning.
IBJ reported March 17 that Mansfield-King was set to receive property-tax breaks from the city of Indianapolis for the $3.4 million expansion.
The company, located at 6501 Julian Ave. on the city’s east side, said the investment will go toward purchasing additional equipment and making building renovations.
Mansfield-King, which has 46 full-time employees, plans to begin hiring for manufacturing, production, logistics, quality control and customer service positions later this year. The new jobs will pay an average of $22 an hour, the company said.
The IEDC said it will provide up to $1.25 million in performance-based tax credits and up to $55,000 in training grants based on the company’s job-creation plans.
The city of Indianapolis approved a 10-year tax abatement that should save the company $202,263. It is expected to pay $153,000 in property taxes over that period.
“With Mansfield-King and its affiliated companies growing so rapidly, Indiana’s combination of worker talent, supportive government and history of manufacturing focus is invaluable to us,” said Charles Haywood, the company’s president and owner, in a prepared statement. “We look forward to continuing to contribute to growth in Indiana.”
Founded in 2005, Mansfield-King makes soaps, shampoos, conditioners and ointments.
The company has been on a tear since. 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.