Project Description

Vestil Manufacturing Corporation

749 Growth Parkway, Angola, IN 46703

Total Project Costs: $15,726,788
Total NMTC Allocation: $13,000,000
SCORE Allocation: $5,000,000
Closing Date: Q3 2018

Distress Criteria:

  • 20.2% poverty rate
  • 76.5% median family income
  • Non-metropolitan

Community Impacts:

  • Created 100 new full-time jobs, 80% of which are accessible to low-income individuals
  • Created 37 indirect jobs from project operations
  • $963,000 estimated annual tax revenue at state and local levels

The Vestil transaction involved the construction of a 220,000-square-foot manufacturing and fulfillment center for Vestil Manufacturing Corporation, located in Angola, Indiana. The new facility provides the manufacturer of material handling equipment added space to manufacture, store, package, process, and distribute orders of loading dock equipment, fork truck attachments, industrial ladders, and more. Employing 435 full-time individuals, Vestil is the second largest private employer for the City of Angola and the expanded facility has created an additional 100 full-time, benefit-eligible jobs for the community. Approximately 80% of these positions will be accessible to a person possessing a high school diploma or less.

Community Alignment

Located in a severely distressed, non-metropolitan community that has lost more than 2,700 manufacturing jobs between 2001 and 2010, generating employment opportunities is a priority for the City of Angola. The project received letters of support from the Office of the Mayor, the Steuben County Economic Development Corporation, the Community Humane Shelter of Steuben County, and Trine University.