Governor Mike Pence Heralds 16 Top Indiana Firms’ Plans Including ILCO’s Staffing Increases and Equipment Purchases 

OOLITIC, IND., 3/1/15 – Indiana Limestone Co. was among 16 Indiana firms lauded recently by Governor Mike Pence for plans to increase jobs and investment around the state.

The governor announced that ILCO’s near-term plans include equipment investments of $9.37 million at quarries totaling 4,500 acres in the Bloomington and Oolitic areas. The expected payoff in new jobs is 75 by 2017, an increase of roughly 57 percent over the company’s current workforce of about 130. Hiring is to begin later this month.

Based on its job-creation plans, ILCO will receive tax credits of up to $450,000 and training grants of $100,000 through the Indiana Economic Development Corp. Overall, the state has committed nearly $20 million in incentives to the companies, including $18 million in conditional tax credits which may be received only after jobs are created. Training grants of about $1.8 million are also being provided.

“It’s a huge honor to be cited by Governor Pence,” said ILCO CEO Tom Quigley. “We at Indiana Limestone Company are tremendously proud to help lead the way in our state’s dynamic economic revival.”

“The changes we project in staffing and investment track with steep increases already underway in demand for our products. We’ll need this augmented investment and hiring to keep pace with well-established trends that suggest new-construction spending will continue to strengthen going forward.”