Parts manufacturer Olson Custom Designs announced Thursday it plans to move from Pittsboro to Indianapolis, where it will buy a 24,000-square-foot Park 100 building and create 30 full-time jobs by 2022.
The company, established by Mitch and Brian Olson in 2014, is a machine shop and metal fabrication operation that specializes in motorsports, defense and consumer products. It has outgrown its Pittsboro home, where it employs 11, and plans to invest $2.4 million in new equipment for its Park 100 facility.
“We are beyond excited to move our business to our new Indianapolis location,” said Mitch and Brian Olson in a prepared statement. “Our growth has far exceeded all of our expectations and we are all excited to continue expanding in our new facility which will help us grow into the aerospace industry.”
The Indiana Economic Development Corp. offered the company up to $180,000 in conditional tax credits and up to $50,000 in training grants based on the company’s job creation plans. The incentives are performance-based, meaning that until the jobs are filled, the company is not eligible to claim incentives.
Develop Indy, the economic development arm of the City of Indianapolis, is supporting Olson's project with property tax abatement and permitting assistance. The tax incentives are contingent on the company’s investment in new machinery, as well as the retention of its current employee base and implementation of job creation efforts.
“The Olson brothers translated their dream of custom fabrication into a successful business, and we’re excited they chose Indy as the location to continue their momentum," said Indianapolis Mayor Joe Hogsett in a press release announcing the move. "I look forward to their anticipated growth in Pike Township.”