MonoSol un­veils plan to build Portage fa­cil­ity

Post-Tribune - - Local - POST-TRI­BUNE STAFF RE­PORT

PORTAGE — MonoSol LLC, a man­u­fac­turer of wa­ter sol­u­ble poly­mer films, com­pounds and so­lu­tions, has an­nounced plans to lo­cate a new fa­cil­ity here, cre­at­ing up to 150 new jobs by 2020.

The Mer­ril­lville-head­quar­tered com­pany, which is a sub­sidiary of Ja­pan-based Ku­raray Co., Ltd., will in­vest $65 mil­lion to build and equip the first two phases of a 300,000-square-foot man­u­fac­tur- ing fa­cil­ity at Ameriplex at the Port in Portage, with an additional $30 mil­lion in­vest­ment planned for the third phase, ac­cord­ing to a news re­lease.

Phase one, which is ex­pected to be op­er­a­tional by late 2016, ini­tially will cover 90,000 square feet and will in­crease the com­pany’s ca­pac­ity by ap­prox­i­mately 15 per­cent. Phases two and three are slated for 2017 and 2020. MonoSol, which has more than 445 em­ploy­ees, in­clud­ing 300 full-time in In­di­ana, plans to be­gin hir­ing next year.

Founded in 1953, MonoSol is a provider of spe­cialty wa­ter-sol­u­ble de­liv­ery sys­tems around the world. Along with its Mer­ril­lville head­quar­ters and ex­ist­ing fa­cil­ity in Portage, the com­pany also op­er­ates pro­duc­tion fa­cil­i­ties in LaPorte and Hartle­bury, Eng­land. In 2013, MonoSol was one of only 15 com­pa­nies world­wide rec­og­nized by Proc­tor & Gam­ble as an Ex­ter­nal Busi­ness Part­ner of the Year.

The In­di­ana Eco­nomic De­vel­op­ment Corp. of­fered MonoSol up to $1,575,000 in con­di­tional tax cred­its. These tax cred­its are per­for­mance-based, mean­ing un­til Hoosiers are hired, the com­pany is not el­i­gi­ble to claim in­cen­tives. The North­west In­di­ana Re­gional De­vel­op­ment Author­ity sup­ports the project through its no-in­ter­est se­cu­ri­tized for­giv­able loan pro­gram. The city of Portage ap­proved additional in­cen­tives at the re­quest of the Portage Eco- nomic De­vel­op­ment Corp.

“Portage can­not ex­press its grat­i­tude nor the honor of be­ing cho­sen by MonoSol as its new growth lo­ca­tion,” Portage Mayor James E. Sny­der said. “We truly be­lieve this com­pany rep­re­sents the very essence of what Portage strives to bring its res­i­dents in new job op­por­tu­ni­ties. Portage has a great eco­nomic de­vel­op­ment team that worked hard to earn this op­por­tu­nity for the ever-promis­ing fu­ture of Portage.”

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