PDQ Tooling will invest $7.2 million to set up shop in Columbia City and create up to 45 new jobs in the next five years, state officials announced today.
The Indiana Economic Development Corp. has offered the company up to $300,000 in conditional tax credits, based on its hiring plans. Whitley County officials have approved additional tax abatement.
Jerry Busche, owner of PDQ, said he explored various options for where to expand his operation. PDQ Tooling is a sister company to Busche's PDQ Workholding, which opened in Columbia City in 2010.
"With increasing demand for our product, we needed an environment that would help us succeed. And one element that has helped boost our success is Indiana's outstanding business climate," he said in a statement. "Through the hard work of our employees and the dedication to making the best products available, we look forward to continuing (to build) on our success here."
The company designs and makes custom indexable cutting tools for the production machining industry.
For more on this story, see Wednesday's print edition of The Journal Gazette or visit www.journalgazette.net after 3 a.m. Wednesday.