By MICHELE F. MIHALJEVICH Indiana Correspondent SHELBYVILLE, Ind. — Krone North America, a manufacturer of hay and forage equipment, has canceled plans to move its headquarters from Memphis, Tenn., to Shelbyville, according to an official with the Shelby County Development Corp. In March 2016, the company announced it would invest $12.5 billion to build a 200,000 square-foot facility at Highway 44 and Interstate 74. The Indiana site would have served as the company’s primary distribution hub and training center in North America.
Plans also included showroom and office space; up to 101 new high-paying jobs were expected by 2021.
Krone originally hoped to break ground in March 2017 but the project was pushed back to March 2018, said Brian Asher, executive director of the development corporation. Company president and CEO Tommy Jones told Asher of Krone’s decision to cancel the move in late July.
Asher said Jones explained the decision was strictly a business move and not a problem with the site or the area.
Jones cited factors such as a quarter that didn’t meet the company’s hopes and uncertainty over a possible border adjustment tax, Asher said.
Jones was also concerned about potential changes to farm subsidies, such as crop insurance. “We were disappointed but also understand the economic landscape is ever-changing,” Asher said.
“(Jones) was disappointed as well.” An attempt by Farm World to reach Krone officials for comment by press time was unsuccessful. When Krone announced plans to relocate its headquarters to Shelbyville last year, Jones said the company was excited to become part of the community.
“In our search we were very impressed with the commitment and teamwork of the community and the state in helping us make this decision,” he said. “The culture of Krone aligns very well with that of Shelbyville. We believe this transition is important to our growth strategy for North America.”
Asher said the site Krone would have occupied is “more than shovel-ready.” A road has been constructed leading into the site, a sewer is in place and soil testing has been done. “We think this will attract somebody sooner rather than later,” he added. “Krone picked this site for a reason. |