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[IEDC] Structural Casting Manufacturer Expands in Delaware County
Start Date: 3/28/2013 All Day
End Date: 3/28/2013
Entry Description

MUNCIE, Ind. (March 28, 2013) – Delaware Dynamics, LLC, a provider of die casting services, announced plans today to expand its operations here, creating up to 13 new jobs by 2015.

The homegrown-Hoosier company will invest $4.9 million to renovate and equip its current 155,000 square-foot facility located at 700 South Mulberry St. in Muncie. As part of the project, Delaware Dynamics will update its software and technology for the production of a new market line of structural thin-wall die cast aluminum.

“With our low-tax policies and quality workforce, Indiana continues to be an affordable environment in which companies can grow,” said Eric Doden, president of the Indiana Economic Development Corporation. “Delaware Dynamics has employed generations of Hoosiers and we’re glad they’ve chosen to expand here again.”

Delaware Dynamics, which currently has 112 full-time employees in Indiana, has already begun hiring additional CNC machinists and die cast assembly personnel.

"Delaware Dynamics is excited to be making this expansion to our Muncie facility, which will allow us to expand our research and development capabilities to compete with the European structural casting market,” said Ryan Haas, chief executive officer of Delaware Dynamics. “This investment, which expands our customer base without venturing outside our realm of experience, could not have been accomplished without the support of the state of Indiana and Delaware County.”

Delaware Dynamics is a producer of die cast molds and provides tooling, prototyping and finished products components through its high-speed milling, electrical discharge machining and CMM validation capabilities. The company supplies its products to the automotive industry, including companies like GM, Ford, Chrysler, Honda and Hyundai, as well as the defense industry.

The Indiana Economic Development Corporation offered Delaware Dynamics, LLC up to $40,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Muncie approved additional tax abatement at the request of Muncie-Delaware County Economic Development Alliance.

"The workers and management team helped win this project for Muncie and have made Delaware Dynamics a world leader with their new technology and products,” said Muncie Mayor Dennis Tyler. “This existing business expansion is great news for Muncie."

Delaware Dynamics’ announcement adds to the Hoosier State’s thriving manufacturing industry. In 2012 Indiana led the nation in manufacturing job growth, with manufacturing employment growing 4.2 percent from October 2011 to October 2012, more than double the national average of 1.6 percent. Since 2010, the Indiana has added the third-most manufacturing jobs of any state in the country, with an impressive nine percent growth rate.

About Delaware Dynamics
Delaware Dynamics is the largest producer of die cast molds in Nofth Ameica. We possess the unique ability to support our customers’ needs from small multi cavity component parts up to large V-Block engine dies weighing up to 200,000 pounds. To learn more, visit www.delawaredvnamics.com.

About IEDC
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.

The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.

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Media Contacts:
Richard Taylor (Delaware Dynamics) – 765.284.3335 or rtaylor@delawaredynamics.com
Katelyn Hancock (IEDC) – 317.234.2294 or kahancock@iedc.in.gov
Location Information:
Delaware County
Contact Information:
Name: Katelyn Hancock
Phone: 317-234-2294
Email: kahancock@iedc.in.gov
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Entry Type:
Press Release
Entry Category:
  • Announcements
  • IN.gov Category:
  • Government
  • Business & Agriculture
  • Agency Name
    Economic Development Corporation, Indiana

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