A Lebanon-based tool manufacturing company on Monday announced plans to more than double the size of its workforce.
Festool USA, which relocated to central Indiana from California in 2006, plans to spend more than $6.8 million and create 55 jobs with the expansion.
The high-end power tool company manages sales and operations staff and runs a workshop for distributors at its Lebanon headquarters, where it has 38 employees. The expansion project includes adding 51,000 square feet to its location at 400 N. Enterprise Drive in the Lebanon Business Park for office and warehouse usage.
“As a family-owned business, we couldn’t be more excited to continue this growth in such a fantastic community, and we look forward to continuing our partnership with our community leaders and Lebanon families for years to come,” Festool Chief Financial Officer Brian Goldthorp said in a written statement.
Festool will begin the expansion and hiring process during the next four to five months.
The Lebanon City Council approved a 10-year real and personal property tax abatement for the company Monday night that will save Festool about 50 percent, or an estimated $700,000, on its taxes over the length of the abatement period.
“The expansion announcement by Festool continues to tell the wonderful story of doing business in Lebanon, Indiana,” Lebanon Mayor Huck Lewis said in the release. “I take pride knowing Festool chose Lebanon, and I am certainly excited to hear the company is expanding. I look forward to Festool’s continued growth for many years to come.”
Festool USA is a unit of Germany-based Festool Group GmbH & Co., a subsidiary of TTS Tooltechnic Systems AG, a holding company that also owns Honeywell protection equipment and Tyrolt cutting anf grinding tools.