Transcendia embarks on $17 million expansion in Wayne County
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Illinois-based plastic manufacturer Transcendia Inc. is putting down further roots in Richmond with an announcement Wednesday that the company will invest $17 million to upgrade operations and add 30 jobs.
The project includes converting part of Transcendia’s warehouse facility to manufacturing space and buying new equipment to help in the manufacturing process.
Transcendia makes specialty and custom plastics and uses advanced techniques like liquid coating, extrusion coating, sheet and film extrusion, and specialized compounding. In a news release, the company said the upgraded facility will let the company make complex composite films that are needed for health care, food and beverage packing products.
“It’s a compliment to the business environment and labor force of Richmond and Wayne County when an existing company continues to grow and invest here. It’s a reaffirmation they made the right decision in locating here,” said Valerie Shaffer, president of the Wayne County Economic Development Corp.
Along with the private investment, the Indiana Economic Development Corp. committed $200,000 in incentive-based tax credits along with up to $100,000 in Hoosier Business Investment tax credits.
The Wayne County EDC is also giving Transcendia $95,000 in grant money for employee training and equipment purchases.
The new manufacturing equipment should be installed by mid-2025, Transcendia said.
Transcendia’s operations sit along Industrial Parkway on the eastern edge of Richmond.