|TOKYO — Governor Mitch Daniels joined Mitsubishi Corp. and subsidiary Indiana Packers Corp. executives in Tokyo June 18 to formalize an agreement with the Japanese-owned company to expand its pork processing operations in Delphi, Ind. Indiana Packers Corp., a joint venture between Mitsubishi and Itoham Corp., will add 125 new jobs to its current workforce in Delphi and invest approximately $43 million to increase plant capacity.
This expansion is in addition to a current company expansion of $69 million and approximately 270 new jobs. The Indiana Economic Development Corporation (IEDC) provided incentives to assist with both expansion projects that combined, will total $112 million in investment and approximately 400 new jobs.
With this expansion, IPC increases pork processing capacity by an additional 15 percent. Since 2003, they have increased their processing capacity by nearly 37 percent.
State incentives offered by the IEDC for the most recent expansion include up to $1 million in tax credits based on job creation and capital investment, up to $150,000 for the training of new and existing employees, and up to $100,000 to the local community for infrastructure improvements to the project site.
This farm news was published in the June 21, 2006 issue of Farm World, serving Indiana, Ohio, Illinois, Kentucky, Michigan and Tennessee.