Mayor David Bower announced today that Summit Seed Coatings Indiana has chosen Salem as the location for their first Midwest facility. The facility will begin operation by January 2015 and employ up to 20 employees.
Summit Seed Coatings Indiana will invest $2.4 million to lease, renovate and equip their 60,000 square foot facility located at 401 South High Street in Salem.
"We included three Midwestern states in our search," said Stuart Barclay, manager at Summit Seed Coatings. "While there were similar benefits offered by all of the states, we were attracted by the cultural atmosphere of Salem, which is similar to Caldwell, Idaho.
Moreover, the help and encouragement by the state of Indiana, the city of Salem and the people we met was a big influence in our selection."
Founded in 2002, Summit Seed Coatings produces seed coatings for major seed distributors, which sell their seeds to agriculture dealers and government dealers, as well as at Lowe's, The Home Depot, Walmart and other garden store chains. The company's coatings convert more seeds to plants and produce more vigorous seedlings than uncoated seeds. Summit Seed Coatings currently coats small seeded legumes, alfalfa, clover, cover crops, radishes, forage grasses, and retail grasses for homeowners.
The Indiana Economic Development Corporation offered Summit Seed Coatings Indiana LLC up to $100,000 in conditional tax credits and up to $17,500 in training grants based on the company's job creation plans. These tax credits are performance based, meaning until Indiana residents are hired, the company is not eligible to claim incentives. The city of Salem will consider additional incentives.
"We are very pleased that after a very competitive multi-state search Summit Seed Coatings Indiana picked Salem as the best location. Their decision reinforces our belief that with a coordinated team effort Salem can be very competitive in attracting new companies and investment. After just 2 years of local effort Summit is the latest success story that now totals over $45 million in new investment completed or underway in Salem. We expect even more in the near future. It has been the result of strong efforts on the part of many individuals. On this project we want to recognize the efforts of the Indiana Economic Development Corporation, Plan Commission Chairman Terry McNeely, Community Development Director Greg Fitzloff as well as the Salem City Council."
For further information; Greg Fitzloff, City of Salem, 502-552-3160