Premium Rock, a manufacturer of engineered stone panels using a new proprietary technology, announced plans today to expand its Elkhart, Ind., operations, creating up to 74 new jobs by the end of 2024.
“As a state, we’re laser-focused on providing a rock-solid, business-friendly environment so innovative companies like Premium Rock are able to focus on what matters most – developing its product and growing its team,” said Indiana Secretary of Commerce Jim Schellinger. “Premium Rock’s expansion plans demonstrate the resilience of Hoosier manufacturers, and we look forward to watching the company continue to grow, supporting the Elkhart County community and adding quality career opportunities for Hoosiers.”
Premium Rock produces lightweight, highly durable, fire-resistant, waterproof and UV-resistant engineered stone panels made by implementing a cold-embedding process to produce seamless images. RVs are just one application where Premium Rock’s products are used.
The company will invest more than $9.1 million to double its 20,000-square-foot manufacturing facility in Elkhart and add new machine and product lines. The company began construction in September and said it expects the expansion to be fully operational by May 2021.
“We’re excited to expand our operations in Indiana and believe the Elkhart community and state of Indiana both provide a great quality of place and low cost of living, which is important to us for our growing team,” said Premium Rock CEO Terry Ploetz. “Being from Elkhart, it means a lot to grow our company in the community we’ve grown up in and are excited to create jobs and expand our footprint in Elkhart.”
The Indiana Economic Development Corporation offered Premium Rock up to $750,000 in conditional tax credits based on its plans to create up to 80 new jobs by the end of 2024. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. Elkhart County said it supports the project.
