The City of Evansville and economic development partners at the Growth Alliance for Greater Evansville are pleased to announce that Sigma Equipment will expand operations in Evansville, hiring 17 new employees immediately and creating up to 43 total new jobs by 2019.
To fill immediate needs, the Evansville-based company will invest $2.2 million to expand their existing facility at 3001 Maxx Road, adding an additional equipment repair shop, office space, a cafeteria and meeting rooms.
Due to significant growth over the last several years, Sigma Equipment will also purchase and renovate an additional facility located at 2000 Lynch Road, adding more than 230,000 total square feet of production and office space. Sigma’s expansion plans will help grow their e-commerce division and provide ample space for future growth.
“We’ve enjoyed tremendous recent growth, and this expansion will satisfy not only our current needs but will facilitate the company’s growth projections for future years,” said Rob Palmer, Sigma Equipment president. “We are excited by the potential offered by the new space, which will allow us to create new jobs in the local community as we add new services and continue expanding our equipment inventory.”
Founded in 2003, Sigma Equipment buys and resells quality, pre-owned packaging and processing equipment for the food, beverage, pharmaceutical and consumer product industries. Serving manufacturers around the globe, the company prides itself in their wide range of affordable equipment options that are immediately available for customer use.
“I’m thrilled at Sigma’s tremendous growth in the packaging equipment industry and even more pleased the company has chosen to remain and continue to thrive in Evansville,” stated Evansville Mayor, Lloyd Winnecke. “That decision is a positive reflection on our local workforce and community, on the economic development leaders who pulled this deal together, and is further proof that Evansville is moving forward.”
With the company’s plans to invest over $5 million in real and personal property, and create 43 new jobs; the Growth Alliance for Greater Evansville has suggested an incentive package that includes 10 year tax phase-in on real and personal property and a $30,000 training grant (requiring 50/50 match) applicable towards newly hired Evansville residents, within the first 2 years.
“We are fortunate to have Sigma Equipment in Evansville, a home-grown company that is expanding its business,” stated Deborah Dewey, President of the Growth Alliance. “The local residents who are hired to perform these new jobs will be fortunate to work with owner Rob Palmer, an innovative business leader and entrepreneur.”
The Indiana Economic Development Corporation offered Sigma Equipment up to $350,000 in conditional tax credits based on the company’s investment and job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Evansville will consider additional incentives at the request of the Growth Alliance for Greater Evansville.
- 43 New Jobs
- 27 Retained Jobs
- $618,000 Investment in Personal Property (new equipment)
- Over $5 Million in Real Property Upgrades/ New Facility
- ECONOMIC IMPACT for Evansville = Over $14.4 million per year / over the next 10 years
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