INOX Market Service, a global stainless steel processing company based in Padua, Italy, has chosen Delaware County, Ind., for its North American headquarters, saying it will create up to 101 new jobs by the end of 2024.
The Padua, Italy-based company, which has operations in Europe, Mexico and India, will launch INOX Market North America (IMNA) and invest more than $15 million to construct and equip a 139,800-square-foot facility in Muncie. The new facility will allow INOX to expand its stainless steel slitting and forming operations, while growing customer demand in the home appliance, elevator and escalator, and industrial sectors. Construction is slated to begin this summer, and the company expects to start production in spring 2021 and reach full operational capacity by 2022.
To support its growth, INOX, which has approximately 400 employees across its nine locations worldwide, will begin hiring in spring 2021 for positions in steel production.
“Today’s announcement is an encouraging sign of positive economic momentum in our state,” said Gov. Eric Holcomb. “As we safely and responsibly reopen, we are committed to working together with local and regional partners to provide the resources businesses – large and small – need to grow and get back on track. We are grateful for INOX Market Service choosing to establish its North American headquarters in the Hoosier state, and we remain confident that Indiana’s skilled workforce and business-friendly environment will support the company’s growth for years to come.”
Adds Federico Sbettega, owner and INOX board of directors member: “We looked at multiple locations within the U.S., and after meeting with state and Delaware County officials, we quickly recognized that their organization and personalized support exceeded that of many other states. We want to be part of a welcoming community like Delaware County, and we find tremendous value in the state and community investing in their futures; and that is exactly what we saw from the leaders in Indiana.”