NEW ALBANY — Vowing to hire 55 Floyd County residents at a rate of four times the local average wage, IQPack, LLC is seeking approval of an incentives package to expand its New Albany operation.
According to a news release issued Friday by One Southern Indiana, the packaging and supply-chains solutions company has a $1.17 million project in store to accommodate a new two-year software development contract.
“There is a major need for what we do, as many e-commerce and manufacturing companies are struggling to optimize their packaging operations and shipments to support more efficient supply chains,” said John Moore, co-founder and director of packaging for IQPack.
“Packaging is the vital thread connecting all parts of an operation such as material costs, handling and storage, labor productivity, transportation cube and sustainability. We bring unique expertise, a laser focus, and passion to harness the value of packaging innovation, along with the proper tools to ensure a positive impact in all these areas.”
The package for IQPack, which is located at 3000 Technology Ave. inside the Purdue Research Park of Southeast Indiana, includes state and local incentives.
The New Albany Redevelopment Commission will be asked Tuesday to provide $10,000 annually for up to three years to reimburse the company for training employees. According to 1si, those incentives would be contingent upon IQPack hiring Floyd County residents for its expansion.
The 55 new jobs will include positions such as packaging engineers, supply-chain experts and software developers.
“While the Midwest is known as the manufacturing hub of the nation, the city of New Albany is also an ideal location for technology-driven companies looking for a smart, highly-skilled labor force,” New Albany Mayor Jeff Gahan said in the news release.
“The planned expansion of IQPack illustrates this point perfectly, and the city of New Albany will continue to assist the company in its efforts to grow and succeed.”
The Indiana Economic Development Corp. has also offered the company up to $1.5 million in conditional, performance-based tax credits.
Indiana Secretary of Commerce Jim Schellinger said in the news release that the state offers a “perfect location” for companies such as IQPack.
“We’re excited to continue supporting IQPack’s growth in New Albany and grateful for the company’s commitment to expanding its operations and creating high-wage career opportunities in Southern Indiana,” he said.
Moore founded the company in 2013, and it recently underwent a rebranding including changing the name from Packaging and Logistics Solutions to IQPack.
The expansion of the company would make for a great start to 2021, said Wendy Dant Chesser, president and CEO of One Southern Indiana.
“The growth and current success of this home-grown, high-tech company sends a signal to other interested businesses that Southern Indiana is the right location for high-wage, high-skilled operations,” she said in the news release.
For more information, go to the website theiqpack.com