Structural Casting Manufacturer Expands in Muncie
(Muncie, IN – March 28, 2013) – Delaware Dynamics, LLC, a provider of die casting services, announced plans today to expand its operations here, creating up to 13 new jobs by 2015.
The homegrown-Hoosier company will invest $4.9 million to renovate and equip its current 155,000 square-foot facility located at 700 South Mulberry St. in Muncie. As part of the project, Delaware Dynamics will update its software and technology for the production of a new market line of structural thin-wall die cast aluminum.
“With our low-tax policies and quality workforce, Indiana continues to be an affordable environment in which companies can grow,” said Eric Doden, president of the Indiana Economic Development Corporation. “Delaware Dynamics has employed generations of Hoosiers and we’re glad they’ve chosen to expand here again.”
Delaware Dynamics, which currently has 112 full-time employees in Indiana, has already begun hiring additional CNC machinists and die cast assembly personnel.
“Delaware Dynamics is excited to be making this expansion to our Muncie facility, which will allow us to expand our research and development capabilities to compete with the European structural casting market,” said Ryan Haas, chief executive officer of Delaware Dynamics. “This investment, which expands our customer base without venturing outside our realm of experience, could not have been accomplished without the support of the state of Indiana and the city of Muncie.”
Delaware Dynamics is a producer of die cast molds and provides tooling, prototyping and finished products components through its high-speed milling, electrical discharge machining and CMM validation capabilities. The company supplies its products to the automotive industry, including companies like GM, Ford, Chrysler, Honda and Hyundai, as well as the defense industry.
The Indiana Economic Development Corporation offered Delaware Dynamics, LLC up to $40,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Muncie approved additional tax abatement at the request of Muncie-Delaware County Economic Development Alliance.
“The workers and management team helped win this project for Muncie and have made Delaware Dynamics a world leader with their new technology and products,” said Muncie Mayor Dennis Tyler. “This existing business expansion is great news for Muncie.”
Delaware Dynamics’ announcement adds to the Hoosier State’s thriving manufacturing industry. In 2012 Indiana led the nation in manufacturing job growth, with manufacturing employment growing 4.2 percent from October 2011 to October 2012, more than double the national average of 1.6 percent. Since 2010, the Indiana has added the third-most manufacturing jobs of any state in the country, with an impressive nine percent growth rate.
“We are grateful and excited for Delaware Dynamics and the community as they continue to invest and add the quality-type jobs every city wants,” said Jim Williams, Chairman of the Board of Delaware Advancement Corporation and the Muncie-Delaware Economic Development Alliance.
About Delaware Dynamics
Delaware Dynamics is the largest producer of die cast molds in North America. We possess the unique ability to support our customers’ needs from small multi cavity component parts up to large V-Block engine dies weighing up to 200,000 pounds. To learn more, visit www.delawaredvnamics.com.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
About the Muncie-Delaware County Economic Development Alliance
The Muncie-Delaware County Economic Development Alliance (EDA) represents a consortium of economic development entities dedicated to the growth and prosperity of Muncie-Delaware County, Indiana. The EDA allocates and leverages economic development resources to sustain and enhance the economic growth, vitality and global competitiveness of Muncie-Delaware County as a superior business location. The EDA’s administrative entities are Delaware Advancement Corporation and the Muncie-Delaware County Chamber of Commerce. More information about the EDA can be found at www.muncie.com.