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Fishers valve maker plans expansion

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Fishers-based Nexus Valve Inc. plans to expand its headquarters and distribution operations, growing its staff by nearly 50 percent over the next four years.

The company, which makes and distributes valve and hose components for the heating, ventilation and air conditioning industry, will invest more than $2.3 million to add 55,000 square feet of space, state economic development officials announced Wednesday.

Nexus Valve has more than 50 employees now, and it could create 21 more jobs by 2015. The firm, founded in 1994, plans to begin hiring supervisors and distribution workers immediately.

Indiana Economic Development Corp. said it offered Nexus Valve as much as $200,000 in performance-based tax credits based on the job-creation plans. The town of Fishers is considering an additional property tax abatement.

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