News release from the Indiana Economic Development Corporation

(Brookville, Ind.) - Rubber products producer, Sperry & Rice Manufacturing Co. LLC, announced today it is expanding its manufacturing operations, creating up to 40 new jobs by the end of 2010.

Sperry & Rice, which produces rubber seals and hoses for the appliance, automotive and truck and bus industries, is consolidating some operations from the company's Killbuck, Ohio facility into the Franklin County site.

"Indiana is competing and winning investment from companies that are looking to consolidate and more efficiently run their business," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Sperry and Rice continues to invest in its Brookville operation and it's resulting in more jobs for Hoosiers in Southeast Indiana."

In August 2009, the company announced it would create 25 new jobs and offer advanced training to existing workers at the Brookville facility as the result of a state training grant and funding from the city of Lawrenceburg's Regional Economic Development Grant program.

"This consolidation allows the company to balance production and focus each plant on its process strengths to provide a higher level of service to our customers," said Jim Gregory, president and chief executive officer of Sperry & Rice.

Sperry & Rice was established in 2004 after Sperry Rubber & Plastics and Rice Chadwick Rubber Co. were acquired and combined. Today the company employs nearly 60 associates in Brookville.

"We are excited about the expansion of Sperry's facility here," said Frank Thompson, Franklin County's Economic Development Director.  "We look forward to working with them to bring future success to their company and the workforce of our county."

The Indiana Economic Development Corporation has offered Sperry & Rice Manufacturing and Co. LLC up to $200,000 in performance based tax credits based on the company's job creation plans.  Franklin County will consider additional property tax abatement at the request of the Franklin County Economic Development Commission. Additionally, Sperry and Rice will receive a $500,000 grant from the city of Lawrenceburg's Regional Economic Development Grant program.

"We're very fortunate to be able to use riverboat gaming money for the economic benefit of the 10-county region," said Mayor William Cunningham "We're happy to help Sperry put people to work and look forward to working with them in the future."

Since January 2009, more than 60 firms have chosen Indiana as the low-cost state to consolidate their operations, committing more than 10,000 new jobs and $360 million in committed capital investment.