MetalX, LLC, a scrap metal recycling company, plans to locate a new facility in Auburn, potentially creating up to 80 new jobs by 2017.
The Waterloo, Ind.-based company will invest $12.4 million to purchase, renovate and equip an existing 240,000 square-foot industrial facility at 1101 Oren Drive in Auburn.
“We’re very pleased that MetalX has chosen to locate its new recycling facility here in Auburn,” says Mayor Norm Yoder.
The company, Mayor Yoder explains, will benefit Auburn in three key ways:
Timeline and hiring
MetalX expects to commission its first line in April, with plans to have the plant fully operational by September. The company, which currently employs more than 100 Indiana associates, plans to begin hiring for the Auburn facility next month. Interested applicants may apply by visiting the company’s Waterloo headquarters at 295 South Commerce Drive or emailing the company’s human resources department at .
The Indiana Economic Development Corporation offered MetalX, LLC up to $725,000 in conditional tax credits and up to $40,000 in training grants based on the company's 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 Auburn also approved additional incentives at the request of the DeKalb County Economic Development Partnership, including $1 million in real estate improvements and $7.7 million in facility equipment.
With family roots in scrap metal dating back to 1943, MetalX is a full-service scrap metal recycling company that processes and distributes all grades of ferrous and non-ferrous scrap metals. MetalX was founded by Danny and Neal Rifkin, third and fourth generation members of the Rifkin family, which had owned and managed OmniSource Corporation until it became part of Steel Dynamics in 2007. MetalX opened its first facility on a 70-acre site in Waterloo and has grown from 12 employees to more than 100 in just more than a year.