CLARKSVILLE, IN (July 7, 2021) – The Town of Clarksville will soon become home to a new high-tech manufacturing facility. Siddhi Integrated Manufacturing Services Inc., an Indiana based company specializing in custom contrast manufacturing, recently purchased a new headquarters and manufacturing facility located on Lynch Lane in Clarksville.
Along with redeveloping and improving an existing Clarksville business property, the new facility will create as many as 30 new jobs, with an average salary of approximately $18.43 an hour. In support of the company’s expansion to Clarksville, the Clarksville Town Council voted on Tuesday night to offer $95,000 in incentives for the project. The upfront investment by the Town will be $15,000, with another $80,000 structured as a tax credit based on performance of the business over the next 5 years.
“Siddhi Manufacturing will be a great addition to our growing business community and we look forward to witnessing their success,” said Ryan Ramsey, President of the Clarksville Town Council. “The Town is honored that they have chosen to call Clarksville home.”
In addition to the investment made by the Town of Clarksville, the Indiana Economic Development Corporation offered Siddhi Manufacturing up to $225,000 in conditional tax credits based on the company’s job creation plans. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired.
“Indiana’s reputation as a global destination for business continues to grow as companies like Siddhi Integrated Manufacturing Services choose to locate here,” said Jim Staton, SVP and chief business development officer for the Indiana Economic Development Corporation. “We’re excited to welcome them to Indiana, and we’re confident our skilled workforce will help the company find success in the Hoosier state.”
The new Lynch Lane facility is currently undergoing renovations, and is expected to be open later this year.
About Siddhi Integrated Manufacturing Services, Inc.:
Siddhi Integrated Manufacturing Services (SIMS) is a machining enterprise located in Clarksville, Indiana, specializing in first-party solutions, as well as custom contract manufacturing. Learn more at https://simfgservices.com/about-sims/.