A farm equipment company has canceled a $12.5 million project for moving its corporate headquarters from Tennessee to central Indiana.
Executives of Memphis, Tennessee-based Krone North America Inc. had announced plans for the new Shelbyville facility during a March 2016 event with then-Gov. Mike Pence. Construction never began as scheduled this past spring for the headquarters that was to include a distribution center, training facility and showroom.
Shelby County Development Corp. director Brian Asher said Krone called off the move for business reasons. Asher said Krone has seen a sales decline and was concerned about possible changes in import taxes, farm subsidies and crop insurance, according to a report in the Indianapolis Business Journal.
Krone had projected having about 100 employees at the new facility about 25 miles southeast of Indianapolis.
