dormakaba, a Swiss-based security and access business, plans to expand and nearly double the size of its Indianapolis plant.
The company plans to build a 200,000 sq. ft. addition, increasing its manufacturing footprint to 430,000 sq. ft. The expansion will allow the company to grow its production of secure locks and access control solutions for markets, including schools and universities, airports, stadiums, healthcare and retail, government and commercial facilities, the Indiana Economic Development Commission (IEDC) says in a news release.
“The world is more connected now than ever before, and we’re working each day to ensure that Indiana is playing a lead role in the global economy,” Illinois Gov. Eric Holcomb said. “I am excited that dormakaba is choosing to make central Indiana the headquarters of its Americas operations, providing quality careers for Hoosiers while making products that are used across the globe to ensure the safety of students, families and travelers alike.”
Dormakaba had purchased the Mechanical Security businesses from Stanley Black & Decker in early 2017.
“dormakaba is proud of our heritage in Indianapolis,” Michael Kincaid, chief operating officer of dormakaba Access Solutions Americas, said in a statement. “We know that this is a great place to attract a talented workforce, allowing us to grow our business, better serve our customers and enrich the lives of our employees. We are excited for what’s ahead.”
dormakaba will break ground on the expansion later this year, with plans to be fully-operational at the expanded site within three years.
The IEDC offered dormakaba up to $2.4 million in conditional tax credits based on the company’s job creation and investment plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis will offer up to 10 years of real and personal tax abatement pending approval from the Metropolitan Development Commission per the recommendation of Develop Indy, a business unit of the Indy Chamber.