(Arcadia, LA) Haynes International announced on June 25, 2012 a $37 million investment at its Arcadia plant, which will create 19 new jobs and retain 141 existing jobs. Governor Bobby Jindal joined Tony Campbell, Haynes International General Manager, Arcadia Mayor Eugene Smith, NLEP President Kurt Foreman and other state and local officials to celebrate the announcement.
“We are pleased that Governor Jindal and Louisiana Economic Development (LED) have stepped forward to support us in many ways,” said President and Chief Executive Officer Mark Comerford of Haynes International. “They have shown a willingness to be a part of our expansion and future success. We also appreciate the support of Mayor Eugene Smith and the Town of Arcadia, along with NLEP as we continue to grow together. This year marks Haynes’ 100th anniversary. It is a milestone that few companies reach. For more than 30 years we have been operating in Arcadia, Louisiana, and with this investment we will strengthen our footprint in Louisiana and improve our ability to service our customers around the world.”
Haynes will expand its facility and add new capital equipment to meet additional demand from its customers in the aerospace industry and other markets. Haynes is one of the leading producers of titanium hydraulic tubing for global aircraft manufacturers. The Arcadia plant currently operates at full capacity. But demand for titanium tubing is growing and is expected to remain strong for the next two decades.
“Demand for titanium hydraulic tubing is increasing, and for the company to maintain and grow its market share, additional manufacturing is critical. This expansion will help Haynes better meet the needs of its titanium tubing customers throughout the world in the aerospace industry. The company looked at sites in other states, but ultimately picked Arcadia for the expansion because of the natural fit of the existing equipment at the facility, Louisiana’s strong business climate, and most importantly, the experienced and dedicated workforce already here,” said Gov. Jindal.
Haynes plans to begin hiring in the next six to eight months. The company expects to complete work on the 35,000-square-foot addition by the second quarter of 2013, increasing its total plant size to 200,000 square feet. The first new rolling mill is scheduled to begin operation in June 2014, while the second mill is slated to start operating in October 2014. Along with creating 19 new direct jobs with an average salary of $38,000, plus benefits, the project will also result in 46 new indirect jobs according to LED estimates.
LED’s Business Expansion and Retention Group (BERG) and NLEP, along with local partners, worked with Haynes to secure the project. The company will receive Louisiana’s Modernization Tax Credit. The program provides up to a five percent tax credit based on the capital investment by companies that upgrade their facilities and make them more efficient. In addition, Haynes is expected to utilize the state’s Industrial Tax Exemption and Quality Jobs incentive programs.
“Haynes International's substantial new investment in its Arcadia facility reaffirms and solidifies the company’s commitment to North Louisiana,” NLEP Chairman Todd Perry said. “NLEP and its state and local partners have worked with the company for more than a year, applying for the various state incentive programs, including Quality Jobs, Industrial Tax Exemption and Modernization Tax Credit. The benefits from these programs are expected to enable the company to upgrade its facilities and equipment, thus securing 160 new and retained jobs for Bienville Parish.”
Haynes International, based in Kokomo, Ind., received approval to move forward with the expansion earlier this month from its board of directors. The Arcadia plant beat out competing sites in Indiana and North Carolina for the expansion.
Haynes International Inc. is a leading developer, manufacturer and marketer of technologically advanced, nickel and cobalt-based high-performance alloys, primarily for use in the aerospace, chemical processing and land-based gas turbine industries. For more information, visit their website.
NLEP is a non-profit economic development marketing organization, promoting 14 parishes in North Louisiana as a desirable and profitable business location. The NLEP and its many partners work with both existing companies and prospective employers to encourage incremental capital investment and job creation as a way to build a strong and thriving economy