Goshen, Ind.-based Supreme Corp.’s expansion plans in the next three years could result in up to 350 new jobs.
The Goshen News reported that company officials declined comment Friday (March 2), but are expected to attend Tuesday’s Goshen City Council meeting and seek a tax abatement extending over seven years. Supreme, first established in 1974, manufactures various types of truck bodies for several industries and has other facilities in California, Texas, Pennsylvania and Georgia.
The expansion involves the consolidation of corporate technical facilities and improvements to its manufacturing area. Those improvements involve $4.6 million in real property and $2.7 million in machinery and equipment, according to a report released by the city’s department of community development.
Additional hirings are expected to take place through 2014 and the company says the average wage of the new employees will be $35,622, the report said.
The bigger work force could bring the company’s total employment to 980, which would make Supreme the fifth largest employer in Elkhart County.
According to the city report, the company will ask for a seven-year tax phase-in that could result in the company saving $688,000 over the entire span. Despite the savings, the company points out that it will still pay an estimated $500,000 in additional property taxes during that time period.
Requested action by the council involves two separate moves. First, council members would vote to establish an economic revitalization area and then vote on the tax abatement request. Those votes often happen in separate meetings. Following Tuesday’s meeting, the council’s next meeting is two weeks later on March 20.
According to its website, the company posted revenues of $301 million in 2011.