Fastenal Expansion

Winona's Fastenal Company has announced plans to expand its operations in Indianapolis, Indiana, creating up to 60 new jobs by 2016.

According to Area Development,com, Fastenal will invest 13-million dollars to construct and equip a 167,000 square-foot addition to its current 900,000 square-foot regional distribution facility in Indianapolis. The facility, which will be fully operational by the end of year, will allow the company to expand its national corporate distribution.

The Indiana Economic Development Corporation offered Fastenal Company up to $285,000 in conditional tax credits based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.

Fastenal Regional Operations Manager, Terry Hanley, said Indianapolis's geographically central location enhances Fastenal's ability to service its customers in a timely manner, Hanley said Indiana's business-friendly environment and Indianapolis' commitment to business, has allowed Fastenal to grow its business there.

Fastenal employs more than 950 in Indiana. It plans to begin hiring for additional full-time positions this summer.

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Topics : Business_Finance
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Locations : IndianaIndianapolis
People : Terry Hanley
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