Progressive Materials, a silicone roofing systems manufacturer, has announced to expand its operations in southeast Indiana, building a new, state-of-the-art headquarters in New Albany, the Indiana Economic Development Corp. (IEDC) says in a news release.
The company, which is one of the largest silicone coatings manufacturers in the U.S., will invest $13.4 million to expand its New Albany-based headquarters after outgrowing its current facility at 540 Central Ct.
Progressive Materials will construct and equip an approximately 100,000-sq. ft. corporate campus at the New Albany North Industrial Park off Hausfeldt Lane with plans to be operational in the new space by December 2019. The complex will be home to Progressive Materials’ manufacturing operations, warehouse space, distribution center, sales and marketing offices and quality control laboratories.
Family owned and operated since 2011, Progressive Materials’ roof coatings and foam roofing systems are designed to reduce life-cycle costs, improve performance and increase the overall sustainability of new and existing buildings. According to the company, silicone is extremely flexible, cures rapidly, and resists oxidation, severe weather, ozone, UV rays and other chemicals that may damage roofs.
The IEDC offered Progressive Materials as much as $240,000 in conditional tax credits based on the company’s job creation plans. The city of New Albany will consider 10-year and five-year real and personal property tax abatements, respectively, at the request of One Southern Indiana.