Krone North America Inc. plans to spend $12.5 million to move its base of operations from Memphis, Tennessee, and build a headquarters and operations hub in Shelbyville, promising to create 101 jobs by 2021.
The company, which is owned by German-based Bernard Krone Holding GmbH & Co. and makes farming equipment, plans to build a 200,000-square-foot facility on 40 acres of undeveloped land at Interstate 74 and State Road 44.
The facility would serve as Krone’s primary distribution and training hub in North America, as well as provide showroom space. In addition, the center would carve out 20,000 square feet for its corporate headquarters staff.
Construction is expected to begin next spring, according to a joint release from Krone and state economic development officials on Thursday.
Krone expects to begin hiring for the facility in 2017 for positions including warehouse, office and management staff. It was unclear Thursday how many of Krone’s employees currently located in Tennessee would relocate to Indiana.
The Indiana Economic Development Corp. has offered up to $1.8 million in conditional tax credits based on the job-creation plans. It also will provide the city with up to $500,000 in infrastructure assistance. The city of Shelbyville is expected to consider providing additional incentives.
Krone was founded in Spelle, Germany, in 1906 and established Krone North America in Memphis, Tennessee, in 1973. The company employs more than 4,500 associates globally, including 160 in the U.S.
The company’s product line includes high-capacity mower conditioners, disc mowers, rotary tedders and rakes, round balers, and large square balers.