NEW HAVEN, Ind. (August 9, 2011) — Hercules Machinery Corporation announced today that they will be investing $232,000 in new equipment and expanding their current facility. The renovations are set to begin in September and be completed by November 1 of this year. HMC will be eligible for a five year abatement of both real and personal property taxes with an estimated savings of $14,300.
The company is currently located on 5025 New Haven Avenue in the City of New Haven. HMC first established itself in Fort Wayne in 1964, but moved in 2006 to its current location in New Haven. Their mission is to offer the world’s finest pile driving equipment while providing the highest level of service in the construction industry. HMC currently has two buildings on its property and this expansion will make for a third. HMC plans to construct an additional 3,000 square foot facility to be used for machining and warehousing. The other half of the budget will go towards new manufacturing, logistical distribution and information technology equipment.
“We knew from the beginning that we needed a building that was going to grow with us. This investment will allow us to stay competitive with more space and new equipment for attracting new business as well as bringing back return business,” stated Justin Reed, chief financial officer of Hercules Machinery Corp.
“The City of New Haven is proud to have Hercules Machinery Corporation investing and growing once again in our community. Companies like HMC that expand here, help our business community thrive and we welcome the opportunity to assist with continued expansions,” stated Mayor Terry McDonald.”
About Hercules Machinery Corporation
Established in Fort Wayne in 1964, HMC manufacturers, wholesales and leases construction equipment such as diesel pile-driving hammers and foundation-related machinery. HMC is realizing tremendous success with its Sonic SideGrip® vibratory pile driver—a piece of equipment that is revolutionizing the way contractors drive steel sheet pile, H-beam and pipe pile. To learn more about Hercules Machinery Corporation, visit www.hmc-us.com.
About the Alliance
The Fort Wayne-Allen County Economic Development Alliance began in 2000 as the lead organization for economic development activities throughout the county. We are a not-for-profit organization supported by Allen County, the City of Fort Wayne, the Greater Fort Wayne Chamber of Commerce and the Fort Wayne-Allen County Airport Authority. The Alliance's goal is to further the base employment of Allen County through business retention, expansion and attraction projects. To learn more about the Alliance, visit www.theallianceonline.com.