Fastenal Company, a distributor of industrial and construction equipment, announced plans on Tuesday to expand its operations in Indianapolis, Indiana, creating up to 60 new jobs by 2016.
The Winona, Minnesota-based company will invest $13 million to construct and equip a 167,000 square-foot addition to its current 6003 Guion Road 900,000 square-foot regional distribution facility in Indianapolis. The facility will allow the company to expand its national corporate distribution and will be fully operational by end of year.
“Indianapolis’s geographically central location enhances our ability to service our customers in a timely manner,” said Terry M. Hanley, Regional Operations Manager of Fastenal, in a prepared statement.
The Indiana Economic Development Corporation offered Fastenal up to $285,000 in conditional tax credits based on the company's job creation plans. The city of Indianapolis also approved additional incentives.