About 100 jobs are slated to come to Delaware County in the next few years as an Italian stainless steel company brings its North American headquarters to Muncie.
INOX Market Service, a stainless steel processer will spend $15 million to build a new factory on Cowan Road, between the Ivy Tech Community College campus and Magna Powertrain. The company says the raw stainless steel it receives and forms at its Muncie plant will be used in home appliances, elevators and escalators, and for other industrial purposes. The 31-year-old company already has operations in Europe, Mexico, and India.
INOX says construction will begin this summer and it expects to begin production in spring 2021, when it will begin hiring. It has promised state economic officials it will bring about 100 new jobs by the end of 2024.
For its job creation plans, INOX will receive more than $1 million in state tax credits, plus possibly more from Delaware County.
In a statement, INOX owner Federico Sbettega says Delaware County and Indiana’s organization and support exceeded other US locations it toured.