4-15-2016 -- A 74,000 SF Bourbon industrial building that sat vacant for eight years is getting a new owner and the town is expected to see up to 198 new jobs created as a result of the deal. Indiana Composites LLC, a manufacturer of open and closed molded fiberglass components for the marine, RV and specialty vehicle markets, has purchased 606 W. Center Street in Bourbon. The company, a new venture, is a wholly-owned subsidiary of Indiana-based IMP Holdings LLC which manufactures panels, dash assemblies and wiring harness and provides integrated assemblies for the marine industry.
“Indiana Composites will adopt IMP Holdings’ values of customer focused processes, quality at the front of the process and respect for all associates as the foundation of our business,” said CEO Michael Peters. The second phase of the project will create a complete assembly operation at the location where IMP Holdings’ electronics will be assembled to fiberglass components for delivery directly to the customer.
The Marshall County Economic Development Corporation reports that Indiana Composites plans to invest approximately $3 million in the purchase and setup of new machinery, and another $790,000 in renovating the facility. This capital investment will create almost 200 jobs with an average wage of $18 per hour. FM Stone Commercial’s Richard Hobson and Ross Miller, SIOR, assisted in the sale. The former owner of the building was Euramax International.