Premium Rock Overview
Premium Rock manufactures high quality, custom image, engineered stone panels used in the RV, hospitality, and real estate industries. Premium Rock LLC has a patent pending process that allows them to embed any image on applied materials. The company proudly serves the hospitality, healthcare, student housing and education industries as well as commercial offices.
The company was founded by Nick Hedges and Chad Wood, using their experience from the granite and RV industries to create a unique and affordable product. Using this knowledge, they created a product that can display any image and even incorporate textured elements into the design to mimic stone, wood, or tile features. Premium Rock looked to McGuire Sponsel to assist in their expansion as demand for their product grew rapidly. Premium Rock hired McGuire Sponsel to negotiate and procure economic incentives on their behalf in support of the company’s considered expansion. McGuire Sponsel negotiated and worked with the Indiana Economic Development Corporation (IEDC) and Elkhart County to procure tax incentives to assist with the company’s growing employment and manufacturing needs. The company, with the guidance and collaboration of McGuire Sponsel’s Credits and Incentives team, requested and received an economic Development for a Growing Economy (EDGE) tax credit and Tax Abatement from Elkhart County. Premium Rock is investing $7,580,000 into real and personal property for their Elkhart County expansion. These incentives will assist the company grow by an additional 80 employees over the next 10 years.
Manufacturing Readiness Grant
State and Local Incentives
|EDGE Tax Credit||$750,000|
|Elkhart County Tax Abatement||$350,000|
|Manufacturing Readiness Grant||$50,000|