Wire and cable manufacturer Lake Cable LLC plans to invest $7 million into its Valparaiso plant, where it hopes to hire up to 54 more workers by 2021.
The Bensenville, Illinois-based company announced plans to expand its 126,000-square-foot plant at 2700 E. Evans Ave. in Valparaiso by an additional 82,000 square feet. Construction should be completed in 2020, when the hiring would start.
“Fourteen years after expanding into Valparaiso, we are excited and optimistic about the way our business is growing and developing,” Lake Cable President Emile Tohme said. “The Valparaiso location recently became ISO 9001 certified for its quality management system, which translates into new opportunities, productivity and efficiency for our company. As our business continues to grow, we will continue to recruit new team members locally and increase our connection to the community.”
Indiana is giving the company $300,000 in tax breaks if it makes good on its hiring plans. The city of Valparaiso is weighing further incentives that would reduce its property taxes.
“We’re thrilled that Lake Cable is continuing to invest in its facility and create more jobs in the city of Valparaiso,” Valparaiso Mayor Jon Costas said. “We have enjoyed a great relationship with the company for more than a decade, and look forward to building upon our partnership and witnessing their continued success in Northwest Indiana."
The privately held company has been in business since 1995 and makes a variety of cables for the utility, renewable energy, commercial construction, petrochemical, transit, HVAC, fire alarm, building management system, steel, and industrial sectors. It employs 450 workers at five facilities, including three in Indiana.