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WEB EXCLUSIVE
AMERICAN SIGNATURE INC. LANDS $2.3 MILLION INCENTIVE PACKAGE; 195 NEW JOBS TO BE CREATED IN INDIANA

Armed with more than $2.3 million in state assistance, American Signature Inc. is building a new regional distribution facility in LaPorte, IN, with plans to create 195 new jobs by 2007, Indiana Governor Joe Kernan announced in June. The company is investing more than $23 million in a new, 517,000-square-foot facility at Eastgate Industrial Park. The facility is scheduled to open in early 2005, and will serve as a distribution center for the company's Midwest region stores.

"The fact that an outstanding company like American Signature has chosen to invest in our state and in our workforce is excellent news for the Indiana economy, and evidence that our job creation efforts are paying dividends," says Kernan. "Indiana's central location is a strength when it comes to attracting this type of investment and something we will continue to emphasize as we work to increase job opportunities for Hoosiers."

The 195 new jobs will be a mixture of labor and managerial positions, paying an average hourly wage of more than $15.00.

Founded in 1948, American Signature Inc. is one of the country's largest independently owned furniture designers, manufacturers and retailers. Based in Columbus, OH, the company has consistently earned a top-10 ranking in Furniture Today's list of top 100 furniture retailers.

"We are excited about building our new American Signature distribution center in LaPorte," says Gary Tittle, senior vice president, American Signature Inc. "Indiana is a great state in which to expand our presence, and we thank Governor Joe Kernan, the Indiana Department of Commerce and the city of LaPorte for their help and assistance in making the distribution center a reality."

The Indiana Department of Commerce worked closely with the city of LaPorte to bring the company to Indiana, offering more than $2.3 million in assistance. The state incentive package includes:

• $30,500 from the Skills Enhancement Fund to train the company's new employees;
• Up to $50,000 from the Technology Enhancement Certification for Hoosiers fund to train the company's information technology professionals;
• $1.9 million in Economic Development for a Growing Economy tax credits; and
• $397,000 in infrastructure assistance through the Industrial Development Grant Fund.

In addition, the city of LaPorte will purchase 58 acres of land within Eastgate Park to be used by the company, and will work with the state to provide more than $1 million in infrastructure assistance.

"This project has been the result of an energetic partnership between the state of Indiana, American Signature and the city of LaPorte," says Barkley Garrett, acting director, Commerce Region 2 office. "The State, under the leadership of Governor Joe Kernan, has prioritized economic development and job creation, and these kinds of partnerships will play a crucial role in attracting new companies like American Signature to Indiana."

Commerce awards Skills Enhancement Fund grants to Indiana companies that undertake capital investment projects. The grants help defray the costs of training new and current employees in transferable and company-specific skills necessary to support these projects. The Technology Enhancement Certification for Hoosiers fund helps companies train existing information technology professionals. Economic Development for a Growing Economy tax credits are based on payroll and are awarded to companies that may otherwise locate in another state or country. The Industrial Development Grant fund provides assistance to local units of government for off-site infrastructure projects in support of new business development. Since January, Commerce grants have helped support the creation of more than 6,400 new jobs and the retraining of more than 18,300 existing employees.