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33 Indiana Firms Commit to Expansion, Hiring

December 21, 2011 by · Leave a Comment 

Governor Mitch Daniels and executives from two home-grown Hoosier firms, including a service supplier to the recreational vehicle industry, today (Dec. 20) announced new investments in Central Indiana expected to create a combined 365 new jobs over the next four years.

According to a press release, quality inspection service provider, Stratosphere Quality LLC, and financial software provider Archway Technology Partners Inc., will invest a combined $4.3 million to expand their individual headquarters in Central Indiana. Stratosphere, which services the RV, automotive, medical device, appliance and construction industries, plans to create up to 225 new jobs by 2015 and Archway plans to add up to 140 new jobs by 2015.

Stratosphere and Archway join 33 other companies that committed to locating or growing their headquarters in the Hoosier State this year, creating more than 4,100 projected new headquarters and operations jobs. In 2011, the IEDC secured job commitments from a total of 219 companies from across the country and around the world, an increase from 200 companies in 2010 and more than any other year on record. These 219 companies project to create more than 19,000 new jobs and invest more than $2.7 billion in their Indiana operations.

As part of the rapidly growing quality-assurance industry, Stratosphere provides sorting and inspection services to manufacturers of parts and components. The company, which has more than 800 associates in North America, plans to invest $2.6 million to expand and upgrade its Fishers, Ind., headquarters and has already begun hiring additional accounting, human resource and finance positions. It also plans to hire new quality inspectors and project managers across the state to interact directly with customers on site.

“We are pleased to see that the careful planning and work being done by Governor Daniels’ team is paying off with such a positive business environment,” said Tom Gray, Stratosphere COO. “We continually invest in our employees, technology, equipment and facilities in order to maintain our competitive edge and are excited to have the opportunity to continue to grow and provide more jobs and training in our home state of Indiana.”

Archway supports and integrates back office operations for firms in the investment management industry. Its systems support business functions required for the management of more than $120 billion in market assets. To accommodate its expanding global client base, the company will invest $1.7 million to nearly double its current 6,000 square-foot headquarters on the north side of Indianapolis. Archway has already begun the hiring process for the additional associates. The new high-wage positions will be across the company, including software engineering, business development and professional and client services.

The Indiana Economic Development Corporation offered Stratosphere Quality up to $1.5 million in conditional tax credits and up to $200,000 in training grants based on the company’s job creation plans. In addition, Archway Technology Partners, Inc. was offered up to $2.4 million in conditional tax credits and up to $100,000 in training grants based on its job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis will support Archway with grant funds at the request of Develop Indy.

 

 

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Business Flowing for Supplier Phoenix Products

September 26, 2011 by · Leave a Comment 

Phoenix Products Inc. has grown to become one of the single largest producers of bathroom and kitchen faucets for manufactured homes and recreational vehicles, according to the The Morning Journal, Lorain Ohio.

“There are millions, literally millions of Phoenix faucets out there,” said Raymond Arth, president and CEO of the Avon Lake, Ohio-based company. “They’re all over the place.”

Water runs in Arth’s family. The tradition started in 1894 when Nicholas Arth, grandfather of Raymond, and his six brothers started a foundry that became the American Brass Manufacturing Co. in Cleveland. After World War II, Nicholas’ son, Raymond W. Arth, joined with Jerry McKeever in 1956 to start Streamway Products Inc., which became a lead designer and supplier of faucets for manufactured homes and recreational vehicles.

The elder Raymond Arth worked as consultant and designer as Arth and his brother, the late Michael J. Arth, started Phoenix Faucets in 1977.

“It’s a traditional family business in that respect,” Arth said. “I think there’s a real family attitude about it. We’ve tried to create a good work environment and be respectful of the situations that people have, kids and families and things like that.”

The brothers chose a name from the mythical firebird that rises not from water but from ashes of its burnt nest.

“That Phoenix name was really a reference to that regeneration in that Phoenix myth,” Arth said. “We’ve got three generations and three companies in that time.”

Now Phoenix Faucets has a 50,000-square-foot shop that has about 30 full- and part-time workers, with another 10 temporary staffers during peak production times.

Workers spin-weld plastic tubes that become the internal pipes of faucets that go in kitchen sinks, bathroom sinks and showers. Then they put the faucet assemblies together and test the handles, valves and pipes with high-pressure water.

According to The Morning Journal, the company keeps parts in stock but builds the faucets based on customer orders. Turnaround time runs about two weeks but Phoenix Faucets sometimes will build and ship fittings in the same day, especially if RV makers risk running out of parts, Arth said.

The company owns the designs and molds for the plastic and metal components, and contracts with shops around northern Ohio and Michigan to supply the pieces assembled in Avon Lake.

“The bulk of it is still stuff we make here with parts from suppliers still in the neighborhood,” Arth said.

The United States and Canada are primary markets to sell faucets, but Phoenix also has sold faucets in Panama, Columbia, Australia and Guam.

Despite rough economic conditions in recent years, business has been steady, especially for recreational vehicle makers, Arth said.

Phoenix Faucets has competition from foreign suppliers and one design was copied so precisely, the imported parts were interchangeable with those made in northern Ohio, Arth said.

“The Chinese loved our kitchen spout to the point where it’s been shamelessly copied,” Arth said. “It was a copy, it wasn’t an imitation. They just took it.”

To read the entire story click here.

http://morningjournal.com/articles/2011/09/25/news/mj5064965.txt

The company keeps parts in stock but builds the faucets based on customer orders. Turnaround time runs about two weeks but Phoenix Faucets sometimes will build and ship fittings in the same day, especially if RV makers risk running out of parts, Arth said.

The company owns the designs and molds for the plastic and metal components, and contracts with shops around northern Ohio and Michigan to supply the pieces assembled in Avon Lake.

“The bulk of it is still stuff we make here with parts from suppliers still in the neighborhood,” Arth said.

 

The United States and Canada are primary markets to sell faucets, but Phoenix also has sold faucets in Panama, Columbia, Australia and Guam.

 

Despite rough economic conditions in recent years, business has been steady, especially for recreational vehicle makers, Arth said.

 

Phoenix Faucets has competition from foreign suppliers and one design was copied so precisely, the imported parts were interchangeable with those made in northern Ohio, Arth said.

 

“The Chinese loved our kitchen spout to the point where it’s been shamelessly copied,” Arth said. “It was a copy, it wasn’t an imitation. They just took it.”

To read the entire story click here.

http://morningjournal.com/articles/2011/09/25/news/mj5064965.txt

 

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