A Canadian company's investment in a plant in New Haven is valued at $40 million and will involve up to 180 jobs, according to information released Monday.
As The News-Sentinel reported last week, Multimatic will occupy the vacant Vera Bradley plant at 2808 Adams Center Road. The plant, to be known as Multimatic Indiana – New Haven, is expected to be in operation by the end of the year.
The company will add specialized equipment to the 125,000-square-foot plant for the production of advanced, high-strength steel components for vehicle body structures, according to a news release from Greater Fort Wayne Inc. It has started renovations at the plant, where Vera Bradley's 250-employee operation was from 2009 to 2015.
Multimatic has begun hiring for technical and manufacturing positions and expects to create up to 180 jobs there by the end of 2018.
“Multimatic chose to establish the factory in New Haven to be close to both its customer base and its existing facility in Butler, something that ensures ongoing production and technical support,” said Rick Nafziger, Multimatic's general manager of the new factory, in the news release.
The Indiana Economic Development Corp. offered Multimatic up to nearly $1.28 million in conditional tax credits and up to $150,000 in training grants based on the company's job creation plans. Allen County/city of New Haven projects that the investment will qualify for a 10-year abatement of personal (equipment) property taxes.