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Panic-bar maker plans 40-person expansion

September 5, 2008

Locally based Ingersoll Rand Security Technologies plans to expand its east side manufacturing operations, creating 40 jobs, the Indiana Economic Development Corp. announced this morning.

The 100-year-old company makes panic release bars and electronic security products for exits. It will invest $6.1 million to upgrade equipment at its Tobey Drive plant, which already employs 530.

The state offered Ingersoll Rand as much as $200,000 in performance-based tax credits and up to $90,000 in training grants. Indianapolis is also considering a property tax abatement for the company.

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