Indo-US MIM Tec Pvt. Ltd is set to launch its first US manufacturing facility in San Antonio, Texas, in 2016. The Board of Directors of Port San Antonio has given its President and CEO, Roland Mower, approval to proceed with a 20-year lease agreement with Indo- MIM.
Indo-MIM is a global leader in the production of precision component parts by Metal Injection Molding. The India-based firm is working to establish its first manufacturing operation in the US within an existing 58,000 ft2 facility at the Port. Indo-MIM anticipates the commencement of operations by the fall of 2016 with a startup workforce of more than 100 local employees, growing to at least 300 workers within five years.
Over the course of several months, key players in San Antonio worked closely to attract the company to the region. The San Antonio Economic Development Foundation (EDF) was Indo-MIM’s first local point of contact, and led efforts to identify an ideal and flexible location that would allow for a quick start-up.
“This is a terrific win for the community. It underscores the importance of local collaboration as the key to attract and grow important employers from around the world,” stated Port President and CEO Roland Mower. “We look forward to continue working hand-in-hand with Indo-MIM and our local partners to establish the company’s first manufacturing operation in the U.S. and ensure its success for years to come.”
Indo-MIM’s CEO, Krishna Chivukula, Jr. stated, “Indo-MIM spent more than 18 months locating its first US manufacturing facility and examined multiple locations in search for the best site. San Antonio’s Economic Development Foundation and Port San Antonio ultimately clinched the deal due to the sophistication of the local manufacturing and industrial culture, strong workforce solutions providers and the City of San Antonio’s and Bexar County’s ability to work with private and public entities to create the right environment for a globalised manufacturing company to thrive long-term.”
“Indo-MIM is excited at the prospect of being able to participate in the development of the San Antonio community by providing stable jobs in advanced manufacturing in the years to come,” he added.
“As more and more international companies like Indo-MIM invest in San Antonio, we move closer to our goal of being a top globally-recognized destination for foreign direct investment,” said San Antonio Mayor Ivy Taylor. “The decision by Indo-MIM to establish its first US facility here at Port San Antonio, the quality of the advanced manufacturing jobs this company brings, and their plans to scale up rapidly—are all a testament to the highly-trained workforce we have in our city.” It was stated that San Antonio, which has strong road, rail and air connections, would allow the company to better serve and grow its customer base in the North and South American markets.
Founded in 1997, Indo-MIM has an existing global workforce of over 2,000 employees, most of whom are based in Bangalore, India. The company’s global sales exceed over $100 million annually, led by customer support offices in Germany, China, Taiwan, Japan, as well as Princeton, New Jersey.
The approval by the Port’s Board of Directors is the first step in formalising an agreement between the company and the San Antonio community.
The San Antonio City Council and the Bexar County Commissioners Court are expected to vote in November on corresponding incentive packages recommended by the City and County economic development departments. These include a personal tax abatement and Economic Development Incentive Fund (EDIF) grant by the City focused on the creation of new high-wage skilled jobs.
If approved by the two local jurisdictions, the Port will proceed with finalising its lease agreement.