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Kermit USA LLC, a manufacturer and distributor of resin composite roofing systems, announced plans today to establish its U.S. headquarters here, creating up to 70 new jobs by 2016.
Based in Turkey, the company will invest $12.5 million to equip 44,000 square feet of space at the newly-created Turkish Business Center in Muncie for its U.S. headquarters and first facility in North America. The facility, which will also serve as a manufacturing and distribution center, will be focused on producing 100 percent recyclable composite slate tiles for the Midwestern home market.
"Indiana has established itself on the global stage as the location of choice for international companies like Kermit to invest and create jobs," said Governor Mitch Daniels. "As one of the most highly-rated business climates in the nation, Indiana is able to secure more jobs for Hoosiers through our innovative pro-growth policies and outstanding workforce."
Kermit, which employs 120 associates globally, plans to begin hiring administrative, production, insulation experts, warehouse and logistics positions next summer.
"After the recent trip to Turkey by city leaders, we were convinced that Muncie was our new home," said Erdal Cakici, president of Kermit. "Indiana's friendly business atmosphere and the accommodating nature of these officials helped make our decision."
Founded in 2004 in Istanbul by Kermit USA's Investment Group, the company operates internationally in France, Libya, Moldova and Iran. The company has won numerous environmental accolades throughout Turkey and Europe for its production of recyclable manufactured goods.
The Indiana Economic Development Corporation offered Kermit USA, LLC up to $300,000 in performance-based tax credits and up to $50,000 in training grants based on the company's job creation plans. The city of Muncie will consider tax-increment financing.
"This is the first of what we hope will be many businesses from Turkey to locate in Muncie-Delaware County," said Todd Donati, president of the Delaware County Commissioners. "The TBC played an integral role in the attraction of Kermit USA and the associated jobs and capital investment. We believe it will play a substantial role in attracting additional investment from Turkey."
Kermit's decision to locate its first North American facility in the Hoosier State comes shortly after Site Selection magazine named Indiana the top state in the Midwest and sixth best in the nation for business, up two spots from eighth in 2010.
About Kermit
Kermit-USA is privately owned by a consortium of Turkish investors, led by Erdal Çakici, President and General Manager. Kermit-USA is in the process of gaining U.S. and state-by-state building code compliance acceptance for its construction products so that it can begin manufacturing and distribution of its products for installation in the U.S. Kermit's principal investors include Mr. Erdal Çakici, Mr. Ali Osman Akat and Mr. Erkan Selah. For more information on products manufactured by Kermit, visit www.kermit.com.tr.
About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.
