Stanley Black & Decker Inc. announced Tuesday morning that it plans to expand its Greenfield operations, creating up to 136 jobs by 2018.
The New Britain, Connecticut-based company will invest $7.7 million to renovate and equip its 220,000-square-foot plant in the Hancock County community.
With the expansion, Stanley Black & Decker will begin producing Dewalt corded power tools at the plant. It already makes a range of products there, including flooring staples, industrial staples and Bostitch pneumatic industrial tools and coil nailers. The expanded plant will produce about 1.2 million power tools annually.
Stanley Black & Decker already has more than 1,300 workers in Indiana, including 111 in Greenfield. The company, which acquired Indianapolis-based Best Lock Corp. in 2002, has the headquarters for its Stanley Security Solutions division in Indianapolis.
Nick DeSimone, vice president of operations for Dewalt, said that by expanding in Greenfield, “we will not only optimize our existing manufacturing footprint, but also enhance our capabilities to deliver core Dewalt products with greater efficiency to our customers and end-users in the United States.”
The Indiana Economic Development Corp. offered Stanley Black & Decker up to $625,000 in tax credits and up to $200,000 in training grants based on the company's job-creation plans. The tax credits are performance-based, meaning that until workers are hired, the company is not eligible to claim incentives. The city of Greenfield will consider additional incentives at the request of the Hancock County Economic Development Council.