MasterBrand announces $8M expansion, 262 jobsApril 11, 2014
From local sources
FERDINAND ”“ MasterBrand Cabinets, Inc., announced Friday plans to expand its Ferdinand operations, creating up to 262 jobs by the end of 2016.
MasterBrand President Dave Randich was joined by Town Council President Ken Sicard and Lt. Gov. Sue Ellspermann in making the announcement.
MasterBrand will invest approximately $8 million in equipment that will add additional capacity and expand the product offering at its 500,000 square-foot facility located at 624 W. Third St. in Ferdinand. The company, which currently employs more than 3,500 at its six Indiana facilities and more than 1,500 in Ferdinand, plans to begin hiring cabinet assemblers, component pullers, shipping helpers, supervision and quality positions immediately.
“MasterBrand is committed to strategic growth that positions us to drive market share and increase our value proposition,” said Dave Randich, president of Masterbrand. “As we expand our Ferdinand manufacturing operations, we provide both new and current employees with opportunities for development and advancement. We are proud to be a member of this community and support our local craftsmen who develop and produce high-quality, innovative cabinetry products used by consumers across the United States.”
The 262 jobs is significantly more than what has been discussed before.
“This was a surprise,” Sicard said. MasterBrand had previously received a tax abatement from the town council for $1.1 million in new equipment, bringing in 135 jobs. “This is all great news for Ferdinand.”
Ellspermann congratulated MasterBrand for its success and called the announcement a “huge win all the way around.”
“Today we celebrate more economic development in Indiana and more jobs for Hoosiers. Our business friendly tax and regulatory policies make Indiana a great place for businesses to start, expand and prosper,” she said. “I take special pleasure in this announcement because MasterBrand is expanding in my hometown of Ferdinand, with its headquarters in Dubois County as well.”
Friday’s announcement marks MasterBrand’s second Indiana expansion in recent years. In March 2013, the home cabinet manufacturer announced plans to add 76 new jobs in Goshen, Ind. As of March 2014, the company has exceeded that goal, adding more than 109 associates at this location.
Founded in 1954 in Celestine, MasterBrand is a subsidiary of Fortune Brands Home & Security and manufactures standard to custom made cabinet brands such as Aristokraft, DecorÃ¡, Omega, Homecrest Cabinetry and Diamond, which are sold directly to kitchen and bath dealers, home centers, wholesalers and large builders. It actively supports the local community through partnerships with Habitat for Humanity, The Nature Conservancy, American Red Cross and Junior Achievement.
MasterBrand operates more than 25 manufacturing facilities, distribution centers and retail stores throughout North America.
The Indiana Economic Development Corporation offered MasterBrand up to $1,250,000 in conditional tax credits and up to $100,000 in training grants 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. The Town of Ferdinand approved an additional tax abatement at the request of Dubois Strong.
“The town of Ferdinand is thrilled and honored that MasterBrand made their determination to expand their business here,” Sicard said. “MasterBrand and their employees are an important asset as we work to grow our community.”