Lake Cable to expand in Valparaiso
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A cable manufacturer headquartered in Bensenville, Illinois is growing its operations in Valparaiso. Our partners at Lakeshore Public Media report Lake Cable plans to invest about $3.6 million in new equipment and add 40 full-time jobs.
The new equipment will be installed at the former Regal Beloit plant, which closed in 2021 and was acquired by Lake Cable last October. The company said the equipment will be used to add production lines.
Lake Cable makes a variety of cable products used in the industrial, utility, broadcast, and custom OEM markets.
The Valparaiso City Council this week voted 4-3 to approve a seven-year personal property tax abatement on the project. Lake Cable said the new jobs will have an average salary of $52,500, and the company will pay an impact fee to the Valparaiso Redevelopment Commission.
Lakeshore Public Media’s Michael Gallenberger reported on concerns some council members had about the abatement and what it could mean for future development in the city. You can read the full article by clicking here.