A metal parts manufacturer headquartered in Noblesville is in the midst of relocating a manufacturing division from Ohio to Hamilton County, a move that it says will create 80 jobs in Noblesville by 2020.
Metal Powder Products, a global provider of custom-engineered powder metallurgy products, is based in Noblesville but also operated in Solon, Ohio, where the manufacturing division moving to Noblesville was located.
The company, which is a portfolio company of New York City-based Mill Point Capital, expects to spend $1.5 million to equip and repurpose its 60,000-square-foot facility at 14670 Cumberland Road to significantly increase its production capacity in Indiana and accommodate the new division, dedicated to metal injection molding manufacturing.
With the investment, MPP dedicating more space—40,000 square feet—to manufacturing, while the remaining 20,000 square feet will serve as office space and support research and development. Limited production of the company’s metal injection molding (MIM) manufacturing is currently under way and will be fully operational this spring.
Founded in 1948, the company already has hired 51 of the 80 planned employees since setting its strategy in motion last year. The company is currently hiring for skilled labor and plans to add up to 29 positions over the next two years.
MPP, which operates eight production facilities in the U.S. and China, has more than 1,150 employees, including 352 associates at its Noblesville and Campbellsburg facilities.
Founded in 1948, MPP specializes in the production of engineered components using powder metallurgy and metal injection molding techniques for automotive, hydraulic, medical and mechanical applications. Metal injection molding—often referred to as powdered injection molding—is an advanced metal forming technique for making both simple and complex metal parts to tight tolerances.
“We are very excited with regard to the move to Noblesville, and the state of Indiana and city of Noblesville have been exceptionally helpful during this process," Dennis McKeen, chief executive officer of MPP, said in a media release. "MPP sees a very bright future for our MIM operations with very rapid growth."
The Indiana Economic development Corp. has pledged up to $500,000 in conditional tax credits and up to $100,000 in training grants to MPP based on its job creation plans. These incentives are performance-based, meaning they can't be claimed until employees are hired.
The city of Noblesville is offering permit assistance in support of the project, and Duke Energy approved additional incentives to offset a portion of the energy costs.