Living Essentials today announced plans to invest $25.5 million and create up to 200 new jobs by 2013 as it builds and equips a new Wabash factory to make 5-hour Energy supplement drinks.
The Farmington Hills, Mich.-based company already employs 370 in Wabash, where it produces more than 9 million bottles of 5-hour Energy each week. The new project will be the company's third facility in Wabash.
The company plans to begin hiring immediately for positions including engineers, production and administration. The 1 million-square-foot factory, which is being built in two or three phases, is expected to open in September 2013 in the Wabash Business Center.
The Indiana Economic Development Corp. offered the company up to $375,000 in training grants, which depend on meeting hiring projections. The city of Wabash also approved a property tax abatement.
Gov. Mitch Daniels attended this morning's announcement.
"Once again, Wabash gets an energy boost from Living Essentials, an innovative company that began with a two-ounce idea and has since grown into a global success story in a very short time," he said in a statement. "This company is proof of the strength of Indiana's business climate and workforce, and we are proud to see them surpass every goal they set."