Office furniture maker Kimball International Inc. plans to sell its metal-fabrication facility in Post Falls, Idaho, and move the plant's operations to Indiana, creating up to 160 jobs by the end of 2016, the company announced Wednesday.
The 64-year-old Jasper-based manufacturer said it would invest $9.5 million to transfer the operations into three company-owned facilities in southern Indiana. The move would take place over the next "seven to eight quarters to ensure no customer disruptions," Kimball said.
Kimball already has about 2,000 full-time employees at 17 locations in Indiana.
“Today’s announcement to better optimize our supply chain and manufacturing footprint, and to reduce our cost structure post-spin, reflects our focus on our markets and positions Kimball for long-term growth,” said Kimball CEO and Chairman Bob Schneider in a written statement. “Savings from this plan will, in part, be redeployed into enhancing our marketing and new product development.”
The Indiana Economic Development Corp. offered up to $1 million in conditional tax credits and up to $300,000 in training grants based on the company’s job-creation plans.
Kimball shares closed at 17.98 each Wednesday, up 20 percent since the beginning of the year.