Circle-Prosco Plans New $4.3M Facility
16. July 2012
Circle-Prosco, Inc., a manufacturer of specialty chemicals for the metal finishing industry, has decided to expand its current operations into a new location in Bloomington, adding 11 new jobs by 2015.
The Bloomington, IN-based Circle-Prosco plans to invest $4.3 million at the new facility, including new machinery and equipment, computer hardware and building improvements. The company produces aluminum and steel coating, lubricants, aqueous cleaners and rust preventatives.
“Circle-Prosco is a home-grown advanced manufacturer and we are thrilled that they have chosen to expand their employment and renovate a vacant industrial building in Monroe County,” said Ron Walker, President of the Bloomington Economic Development Corporation (BEDC). “Our economic impact estimates predict that this expansion at Circle-Prosco will help support nine households and over $450,000 in personal income from the combined direct and indirect employment impacts,” said Walker.
“Circle-Prosco is pleased to expand in Monroe County and build upon the over 40 years of growth and innovation that have enabled us to become a leader in the specialty chemicals business,” said Doug Parker, President of Circle-Prosco, Inc. “We look forward to continued growth and success and remaining a Monroe County manufacturer.”
The Indiana Economic Development Corporation offered up to $60,000 in conditional tax credits 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.
“Having a homegrown company like Circle-Prosco continue to find success in our state speaks volumes about Indiana’s business climate,” said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. “Our state provides these firms with the right sets of tools and support to promote organic, sustainable growth.”