IBJNews

Casket maker plans $16.5M investment, 300 jobs

Back to TopCommentsE-mailPrintBookmark and Share

Indianapolis-based Genesis Casket Co. plans to invest $16.5 million to open a manufacturing and distribution operation on the city’s far-east side, creating 300 jobs over the next three years.

Mayor Greg Ballard joined company officials to announce the plans Wednesday morning.

Founded just last year, Genesis Casket expects to hire the first 150 employees at an average wage of $26 per hour by the time the facility opens in the summer. Management, sales and marketing, engineering, and production and distribution positions will be among those filled.

The Indiana Economic Development Corp. has offered the company up to $4.5 million in performance-based tax credits. In addition, Develop Indy will support the company’s request for a personal property-tax abatement before the Metropolitan Development Commission based on job-creation and capital-investment plans.

EmployIndy, formerly the Indianapolis Private Industry Council, has offered recruiting assistance and a $300,000 job-training grant.

Genesis Casket, which expects to produce 30,000 metal caskets in its first full year of production, is partnering with Troy, Mich.-based Gestamp North America Inc. to open the facility.

William Anthony Colson has been named CEO of Genesis Casket and will relocate to Indianapolis. He most recently served as president and CEO of Wilbert Funeral Services in Chicago, a manufacturer and distributor of burial vaults and cremation products.

“Indianapolis is central in proximity to many major markets, which makes it a preferred location from an operations and logistics perspective,” Colson said. “My team and I considered several possibilities.”

Genesis Casket will occupy the 241,000-square-foot building at 3011 N. Franklin Road sold recently by SMC Corp. and listed for $3.9 million. The sale price wasn’t disclosed.

SMC Corp. is a Japanese manufacturer of pneumatic valves and actuators whose U.S. headquarters are now in Noblesville.

In 2008, the state gave SMC $4 million in tax credits plus $387,000 in training grants to move 500 jobs to the Hamilton County city. The company expected to create another 250 jobs by moving to Noblesville.

In addition to the state incentives, SMC received $14.6 million in incentives and infrastructure improvements, such as road widening, from the city of Noblesville.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Angela IS the best RD

  2. We are a nation of speed. All of our younger lives are filled with deadlines, quotas and bottom lines. We start to ease out of the pressured rat-race when we finally see "retirement." The most enjoyable travel on the planet is passenger rail service. Indy to Chicago does not beat Megabus or Southwest Airlines in speed. Passenger rail however has the best seating, mammoth legroon, seat backs that recline to more than 45 degrees and employers that really want you to return as a customer. Indiana municipalities need to maintain subsidies to support this transportation mode. Losing it is loss for all of us.

  3. Good day! I just want to testify how i got my loan from Mr. Eric Lefkofsky after i applied several times from various loan lenders who claimed to also testify right in this forum,i thought the testimonies where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan. Until a friend of mine introduce me to this popular Mr. Eric Lefkofsky who promised to help me and indeed he did as he promised without any form of delay. I never thought there are still reliable loan lenders until i met Mr. Eric lefkofsky who indeed helped me with the loan and changed my belief. I promised to share this testimony after I got my loan. I don't know if you are in any way in need of a genuine and urgent loan,free feel to contact Mr. Eric Lefkofsky via their email{grouponfunding@hotmail.com}

  4. Its a THUG issue. Bleecker Street and NYX are thug bars. They attract thugs of all races. Places that attract thugs need to be kicked out of Broad Ripple. Ain't nobody got time for that!

  5. Hello everyone, My name is Marian Gareth, I am from the Texas, United State, am here to testify of how i got my loan from Mr Andre Frank {frankloancompany@yahoo.com} after i applied Two times from various loan lenders who claimed to be lenders right in this forum,i thought their lending where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan.Until a friend of mine introduce me to Mr Andre Frank the C.E.O of Andre Frank Loan Company who promised to help me with a loan of my desire and he really did as he promised without any form of delay, I never thought there are still reliable loan lenders until i met Mr Andre Frank, who really help me with my loan and changed my lief for better. I don't know if you are in need of an urgent loan, free feel to contact Mr Andre Frank on his email{ Frankloancompany@yahoo.com} for help

ADVERTISEMENT