Columbus-based Tipton Mills Foods will invest $4 million to construct a new warehouse in addition to its existing 45,000-square-foot plant. The new facility will double Tipton Mills’ production.
Following the recent acquisition of a competitor based in Wisconsin, Tipton Mills considered a variety of options for the location of the acquired operations. During an extensive planning and research process, McGuire Sponsel worked with Tipton Mills Foods leadership to examine all options and maximize the planned investment.
“McGuire Sponsel was grateful to assist on expansion research and incentive negotiations, which ultimately delivered maximum value to Tipton Mills,” said McGuire Sponsel Principal Steve Brunson. “Tipton Mills Foods is an innovative company with significant growth potential, and the public incentives we helped to secure will help continue the company’s exciting trajectory.”
Given available tax credits and incentives offered by both the City of Columbus and Indiana Economic Development Corporation (IEDC), an expansion of Tipton Mills’ current footprint presented itself as the best option.
“The McGuire Sponsel team was a true partner throughout the process,” said Tipton Mills President and CEO David Harding. “Their knowledge and support allowed us to focus on our business and employees knowing that all available economic development incentives would be secured.”
Operations at the new facility are scheduled to begin in Dec. 2018, and Tipton Mills plans to hire approximately 40 new employees as part of the expansion.