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Turkish manufacturer selects Muncie for U.S. headquarters

IBJ Staff
November 4, 2011
Keywords
Economic Development, Economic Development Agencies, Government & Economic Development, Headquarters Relocations, Indiana Economic Development Corp., Job Creation, Tax Abatements, Tax Credits
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Turkey-based Kermit USA LLC, a manufacturer and distributor of resin composite roofing systems, announced Friday morning that it plans to add 70 jobs by 2016 as part of a $12.5 million expansion in Muncie.

The company said the investment will go toward equipping 44,000 square feet of space at the city’s newly created Turkish Business Center for its U.S. headquarters and first facility in North America.

The facility also will serve as a manufacturing and distribution center, and will produce recyclable composite slate tiles for the Midwestern residential market.

Kermit has 120 employees globally and plans to begin hiring for administrative, production and insulation positions, as well as for warehouse and logistics jobs, next summer.

The Indiana Economic Development Corp. said it will provide Kermit up to $300,000 in performance-based tax credits and up to $50,000 in training grants based on the company’s job-creation plans. The city of Muncie will consider tax-increment financing.

“After the recent trip to Turkey by city leaders, we were convinced that Muncie was our new home,” Kermit President Erdal Cakici said in a written statement. “Indiana’s friendly business atmosphere and the accommodating nature of these officials helped make our decision.”

Founded in 2004 in Istanbul by an investment group, Kermit operates internationally in France, Libya, Moldova and Iran.

 

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