INDIANAPOLIS (May 31, 2018) – Parts manufacturer Olson Custom Designs announced plans today to expand its operations in Indianapolis, proposing to purchase a facility in Park 100 and create up to 30 new full-time positions by 2022.
“Indianapolis is the ideal location to test ideas, build great products, and ship them out to the world,” said Indianapolis Mayor Joe Hogsett. “The Olson brothers translated their dream of custom fabrication into a successful business, and we’re excited they chose Indy as the location to continue their momentum. I look forward to their anticipated growth in Pike Township.”
Olson Custom Designs was established by Mitch and Brian Olson in 2014 as a machine shop and metal fabrication operation that specializes in motorsports, defense, and consumer products. The company’s success has caused it to outgrow its current facility in Pittsboro, and they have selected a 24,000 sq. ft. facility in Pike Township to expand their capacity and plan for future growth. Olson plans to invest $2.4 million in new equipment for the location.
“We are beyond excited to move our business to our new Indianapolis location,” said Mitch and Brian Olson. “Our growth has far exceeded all of our expectations and we are all excited to continue expanding in our new facility which will help us grow into the aerospace industry.”
The Indiana Economic Development Corporation (IEDC) offered Olson Custom Designs LLC up to $180,000 in conditional tax credits and up to $50,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning that until Hoosiers are hired, the company is not eligible to claim incentives.
“We’re thrilled to see another Hoosier small business expand its footprint in the heart of our state, providing good jobs for families,” said Elaine Bedel, president of the IEDC. “Indiana is home to 500,000 small businesses that play a critical role in creating Indiana’s vibrant economic environment that continues to grow. We look forward to witnessing Olson Custom Designs’ continued success and will do our part to ensure all Hoosier businesses have the tools they need to succeed.”
In addition, Develop Indy, the economic development arm of the City of Indianapolis, supports the project with an offered property tax abatement, workforce and permitting assistance. The tax incentives are contingent on the company’s investment in new machinery, as well as the retention of its current employee base and job creation efforts.