The world’s largest bedding maker has chosen Indiana to build what could become its biggest manufacturing plant.
Tempur Sealy International Inc. announced Monday that it has chosen a 130-acre site in Crawfordsville—about 50 miles west of Indianapolis—to construct a foam-pouring plant that will employ about 300 workers after it opens in 2023.
Construction on the plant, which will be the company’s third in the United States, is expected to begin in the third quarter of 2021.
The company said the plant is initially planned to be 700,000 square feet and could grow to 1 million square feet “in the future.” The expansion would make it Tempur Sealy’s largest plant worldwide.
Tempur Sealy, which has about 8,000 employees worldwide, said it would begin hiring in Crawfordsville for management, supervisory, administrative and staff positions beginning later this year.
“This new facility’s location in the Midwest complements the company’s existing manufacturing footprint and is expected to enhance the company’s ability to service its Northeast customers,” Tempur Sealy said in written comments.
The Lexington, Kentucky-based company said the Crawfordsville facility will be capable of making bedding products and components for branded and non-branded operations, including Tempur-Pedic, Sealy and Stearns & Foster mattresses.
“After a thorough site search and evaluation process, we have identified Crawfordsville as the ideal location for our new operations,” Tempur Sealy Chairman and CEO Scott Thompson said in written remarks. “We selected this location based on the robust business climate fostered by the state and local government, the quality of life the city of Crawfordsville provides its citizens and the property’s access to major transportation routes.”
Pending approval of its board of directors, the Indiana Economic Development Corp. is set to offer Tempur Sealy up to $2.5 million in conditional tax credits based on the job-creation plans. The IEDC also will offer the company up to $1.1 million from the Hoosier Business Investment tax credit program based on the company’s planned capital investment, and up to $450,000 to the local community from the Industrial Development Grant Fund to support infrastructure improvements. Montgomery County is considering additional incentives.
Tempur Sealy had sales of $3.67 billion in 2020, up 18% over the previous year. Profit soared 84%, to $348.8 million.