Calumet Paralogics Expanding in Muncie
Calumet Specialty Products Partners is headquartered in Indianapolis. (photo courtesy of Calumet)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA specialty wax blending and packaging company is planning to expand its operations in Delaware County. The Muncie-Delaware County Economic Development Alliance says Calumet Paralogics LLC will invest $2.7 million to add new equipment at its current location in Muncie and create 20 jobs by the end of 2025.
Calumet Paralogics is a subsidiary of Calumet Specialty Products Partners L.P. (Nasdaq: CLMT). Calumet Paralogics is the result of an acquisition by Calumet last year. The company currently employs 1,400 people at 12 facilities around the country.
“We’re excited to grow our Paralogics location and our wax business,” said Scott Obermeier, executive vice president of specialty products and solutions for Calumet. “We believe this part of our business has incredible potential for growth even beyond this investment in coming years. Having been headquartered in Indianapolis for more than 30 years, this expansion being in Indiana is very meaningful for us.”
The Muncie City Council is supporting the project with an approval of a five-year tax abatement on new personal property.
“We’re grateful for Calumet Paralogics’ commitment to serving customers across the country, while contributing to a thriving business community in Muncie,” said Jim Staton, chief business development officer for the Indiana Economic Development Corp. “More growth in Delaware County is encouraging news and speaks volumes to the quality of the Hoosier labor force and the positive business environment offered throughout the state of Indiana.”
The IEDC offered Calumet nearly $300,000 in conditional tax credits.