A local company is planning to expand its Logansport operations with a $3.2 million investment that is expected to bring up to 32 jobs to Logansport.
Bill Cuppy, president of the Cass Logansport Economic Development Organization, says Logan Stampings Inc. (LSI) plans to purchase property in the Logansport Industrial Park, adding a second location in Logansport.
Logan Stampings’ operations at the current location at 1100 E. Main St. in Logansport will move to the Logan/Cass Industrial Park. The company currently has 46 full-time and 28 part-time employees in Logansport.
LSI Metal Fabrication, which includes 15 full-time and five part-time employees, will move from its Peru location to the existing Logan Stampings facility on Main Street in Logansport. They anticipate hiring at least 12 additional employees.
Established in Logansport in the 1960’s, LSI Group — a co-operative company now consisting of Logan Stampings, Building Products Development (BDP), LSI Metal Fabrication and Roof Hugger — manufactures stamped and fabricated products for the metal building industry, electronics, railroad, agriculture, office furniture and transportation.
“This is a rare opportunity to acquire a high-quality manufacturing facility here in Cass County,” says Robert Baker, president of Logan Stampings, “This is an exciting time for LSI, and our continual growth has presented real challenges with space, both to accommodate the new equipment required to manufacture products and the addition of new employees. The new site acquisition and transferring the Peru plant to Logansport are a necessary part of ensuring for a longer-term that we continue to prosper and continue to create high-quality jobs here in Cass County. This dual move will allow both companies room to grow and become more efficient.”
The Logansport City Council is considering a $100,000 incentive for new job creation at the company’s Logansport facilities. In addition, a $500,000 incentive for moving expenses, to be paid over five years, is also being considered, with 70 percent of the funds to come from the City of Logansport and 30 percent from Cass County.
All of the incentives would be funded through the County Economic Development Income Tax (CEDIT) fund, which comes from an individual economic development tax on wages. Traditionally, these funds are set aside for incentives to support development projects throughout the county.
“This dual expansion and its undertaking would not be possible without the team’s depth of experience, a highly-engaged workforce and the support of city and county government, along with LMU [Logansport Municipal Utilities],” Baker said. “There has been nothing but 100 percent support for the whole project. We’re all investing to make this happen.”
Cuppy said the expansion makes sense with the company’s headquarters already being located in Logansport.
“With Logan Stampings having their headquarters in Logansport, this expansion in our community makes economic sense logistically,” Cuppy said. “During this due diligence period, our goal locally has never been to recruit any businesses away from Peru or any other community in our region. We have only been working toward what is best for Logan Stampings and this move to acquire an existing building in our industrial park was best for their business. Christy Householder [Cass County Economic Development Director], local elected officials both from the county and city, along with myself, have worked to put the many moving parts together to assist Logan Stampings with this expansion.”
Baker said he does not anticipate any interruption of business or production during the process of the move.
Logan Stampings was recently announced by Metal Roofing Magazine as the top supplier in the industry for 2018 and are now included in the magazine’s Metal of Honor.