The Bristol Group Announces Plans for New Entity, Adding 80 New Positions
One Southern Indiana and the Bristol Group, Inc., announced today the formation of Ohio Valley Precast, LLC. The newly formed company is proposing a project that will take on the Bristol Group’s established precast concrete manufacturing operation. The Bristol Group, a design-builder that provides engineering, architecture, grading/excavation, structural concrete and precast for industrial and commercial construction, is based in Lexington, Ky. Ohio Valley Precast, LLC, will be located on Rocket Plant Road in Charlestown, Ind.
“Southern Indiana is experiencing an incredible amount of economic activity, and we certainly took note,” said Todd Ball, president of Ohio Valley Precast. “Strategically, it made a lot of sense for our business to be a part of this market, and we look forward to continued growth and success here. We are thrilled to be locating Ohio Valley Precast in Clark County.” The proposed project will include a capital investment of approximately $12.2 million and will result in the creation of an estimated 80 full-time positions. This represents a total annual payroll of more than $4.3 million.
Paul Wheatley, president of The Wheatley Group, a Sellersburg, Indiana-based economic development strategy firm which acted as the site selection advisor on the project, said, “We are very excited to bring a project of this caliber to Clark County. It is always an added bonus for us when our clients decide their best chance for success is in our own backyard. We were pleased to work directly with our state and local officials to bring Ohio Valley Precast’s project to fruition, and commend everyone for their efforts.”
Representatives of Ohio Valley Precast, LLC, requested and received tax abatements for both its real estate and personal property from the Clark County Council yesterday evening. Tax abatements allow companies to phase in their real and personal property taxes over time.
With assistance from One Southern Indiana (1si), the Indiana Economic Development Corporation (IEDC) offered Ohio Valley Precast, LLC, up to $625,000 in conditional Economic Development for a Growing Economy (“EDGE”) 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. IEDC also offered a grant of up to $50,000 from the Skills Enhancement Fund for training the company’s eligible, Indiana-resident employees.
“Ohio Valley Precast’s decision to establish operations in Indiana continues a trend of growth as businesses across the country are choosing to locate in a state that works,” said Governor Mike Pence. “We have worked diligently to create a low-tax, pro-growth business climate, which is ranked among the top five in the nation, and we are proud to be home to millions of hardworking Hoosiers. This company could create jobs anywhere, but they chose Indiana because we offer the tools needed for success both now and in the future.”
Barbara Hollis, president of the Clark County Council, commented, “The attraction of high-paying jobs for Southern Indiana residents is extremely important to Clark County, and we stand ready to help Ohio Valley Precast in any way we can.” President of the Clark County Board of Commissioners Jack Coffman added, “Ohio Valley Precast is a prime example of a company that has one eye focused on success and another on being an outstanding corporate citizen. We are thrilled they chose Clark County for their new facility.”
Seeing a demand for precast buildings, the Bristol Group launched into precast manufacturing in 2003. Since that time, concrete wall panels have been incorporated into many of the company’s projects including dam rehabilitation, highway sound barriers, warehouses, manufacturing facilities, commercial offices, parking garages, pedestrian bridges, multi-story residential and commercial retail projects. Demand for the panels has continued to grow, prompting the Bristol Group to launch this new endeavor.
“We are delighted Ohio Valley Precast will be in Southern Indiana and making this investment in our workforce and our community,” said Wendy Dant Chesser, president and CEO of 1si. “There is nothing better than announcing projects that bring new jobs to our community. This project will provide our citizens with wages higher than the annual median household income in Clark County so it is truly a win-win for both Ohio Valley Precast and Southern Indiana.”
About Bristol Group:
Bristol Group was founded in Lexington, Kentucky, delivering high value design-build construction services to commercial and industrial clients. The company began as a construction manager but pivoted quickly to become a design-builder with its own design expertise, labor and equipment to control cost and schedules. For more information about Bristol Group, visit www.bristolgrp.com.
About One Southern Indiana:
One Southern Indiana (1si) was formed in July of 2006 from the Economic Development organization serving Clark and Floyd counties and the Chamber of Commerce. 1si’s mission is to provide the connections, resources and services that help businesses innovate and thrive in the Southern Indiana / Louisville metro area.
Since its inception, the organization has evolved to include a three prong approach to serve its members and investors.
Business Resources, as the chamber side of the organization, encompasses membership, signature events and programs which support and encourage business growth; Economic Development works to grow the regional economy through the attraction of new commerce and assists with retention and expansion of existing businesses; Advocacy supports businesses at the government level by engaging in the initiatives to preserve, protect and promote a business friendly environment free of obstacles to growth and development of commerce. More information on One Southern Indiana is available at: www.1si.org