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[IEDC] Jewelry Producer Opens New Plant in Floyd County
Start Date: 3/14/2013 All Day
End Date: 3/14/2013
Entry Description

NEW ALBANY, Ind. (March 14, 2013) – Governor Mike Pence joined executives from Ronaldo Designer Jewelry, Inc., a family-owned producer and distributor of handcrafted wire jewelry, today to announce the company’s plans to expand its operations here, creating up to 80 new jobs by the end of 2013.

The company invested $519,300 to purchase and equip a 4,400 square-foot facility in New Albany. Ronaldo Designer’s new location, which houses 90 percent of its jewelry production, opened its doors in January.

“Ronaldo Designer’s expansion and commitment to our state reinforces southeast Indiana’s economic strengths,” said Pence. “Our solid fiscal house, unmatched infrastructure and quality workforce make Indiana stand out as a state that works for business.”

The jewelry designer currently employs more than 30 associates at its two Indiana locations in Laconia and New Albany. As part of the expansion, the company has already begun filling new management and production positions.

“Due to the popularity of our products, we needed a facility to expand our production capacity and continued growth. Indiana is a natural fit for our family-owned company and we are proud to call Indiana our home,” said Ronnie “Ronaldo” Needham, owner and president of Ronaldo Designer.

Founded in 1992 as Gold Craft in Louisville, Ky., Needham launched Ronaldo Designer in 2009 to design, handcraft and distribute fine jewelry to jewelry stores, boutiques and gift stores. With more than 25 years of industry experience, Needham has created and copyrighted more than 890 designs using a wide range of raw materials, including 14k gold wire, platinum, argentium silver and 14k gold artist wire. Today, the company produces more than 8,000 pieces of jewelry per week and sells to more than 152 retail locations throughout the country.

The Indiana Economic Development Corporation offered Ronaldo Designer Jewelry, Inc. up to $200,000 in conditional tax credits and up to $50,000 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 New Albany will consider additional incentives at the request of One Southern Indiana.

“We are excited Ronaldo Designer chose downtown New Albany to call home and grow its business,” said New Albany Mayor Jeff Gahan. “They are a nice compliment to the organic growth and rebirth we’ve been encouraging in our downtown area. The city of New Albany is excited by these new jobs and investment and look forward to the company’s success for many years.”

From jewelry to motor vehicle to electronic production, leading manufacturing firms from around the world have chosen the Hoosier State for their plants and corporate offices. Indiana's manufacturing industry is rated first in the nation in per capita manufacturing employment and received an overall 'A' grade, according to the 2012 National Manufacturing and Logistics Report Card published by Conexus Indiana.

About Ronaldo Designer
Ronaldo Designer Jewelry designs and handcrafts fine jewelry including  bracelets, rings, earrings, pendants and more. The designs are available in a variety of gold, silver and two-toned metals, along with a vast assortment of gemstones. For more information, visit www.designerjewelrybyronaldo.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:
Mike Scheser (Ronaldo Designer) – 502.492.9028 or mike@designerjewelrybyronaldo.com 
Katelyn Hancock (IEDC) – 317.234.2294 or kahancock@iedc.in.gov
Location Information:
Floyd 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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