Culver Tool & Engineering Expanding
Plymouth, Ind. -- Culver Tool & Engineering, Inc. has announced plans to add on to its existing production facility in Plymouth, investing approximately $1,000,000 in new construction and new manufacturing equipment and creating at least 6 new jobs in 2012.
Founded in 1963 as a broach tool builder, Culver Tool began production of medical devices in 1992. Today, Culver Tool is the leading U.S. producer of orthopedic spinal implants, including all forms of spinal rods, hooks, connectors and instruments, as well as prototypes, customs and specials for the medical industry. The company currently employs 53 people.
“We have been blessed with 33% growth in subsequent years,” said Wade Berger, President of Culver Tool. “With this investment we are increasing our capabilities while remaining focused on the stringent quality standards this company was founded upon.”
The City of Plymouth granted Culver Tool a three year real property abatement and five year personal property tax abatement to facilitate the company’s expansion.
“This mission-driven company is poised for continued exponential growth and success,” said Plymouth Mayor Mark Senter. “The City is pleased to be able to help encourage Culver Tool advance new R&D and add production capacity.”
The City of Plymouth offers real and personal property tax phase-in as an incentive to help new and expanding businesses improve facilities or add new equipment. Tax abatement provides tax relief to the owner while supporting new development which would not otherwise occur without public support.
Culver Tool will add $700,000 in new machinery and reconfigure production space by combining two existing buildings. The project will commence May 1.
About Culver Tool: Culver Tool & Engineering, Inc. is the established producer of spinal rods in the U.S. and has been manufacturing spinal rods for the orthopedic industry for over 18 years. Corporate Motto: All our employees work together as a team, helping and encouraging one another daily. Our goal is to combine our efforts to produce medical implants, instruments and our broaching services in an effective and relaxed atmosphere.
Source: Marshall County Economic Development Corporation