The Indianapolis-based company, which supplies customers in the aerospace, automotive and medical industries, will invest $524,000 to expand its aerospace division at its 9,000 square-foot facility in Indianapolis. As part of the project, the company will make building renovations and information technology upgrades.
Haggard & Stocking, which currently has 56 full-time employees in Indiana, has already begun hiring new customer service, warehouse, sales and management associates.
"Haggard & Stocking's success and growth would have been greatly diminished without the supportive business environment in Indiana," said Herb Haggard, president and chief executive officer of Haggard & Stocking. "We're very pleased to have our headquarters in Indiana, where small business owners are appreciated and celebrated."
Celebrating the company's 40th anniversary this year, Haggard & Stocking began operations as a blueprint specialty tooling producer. The company, which operates nine facilities throughout the nation, was recently awarded the 2012 Region V Subcontractor of the Year by the U.S. Small Business Administration.
The Indiana Economic Development Corporation offered Haggard and Stocking Associates, Inc. up to $165,000 in conditional tax credits and up to $33,500 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis supports the project through additional incentives at the request of Develop Indy.
About Haggard & Stocking
Founded in 1972, Haggard & Stocking is one of the largest, full-line industrial distributors in the Midwest. Haggard & Stocking is a family-owned and operated distributorship specializing in MRO products for the automotive, aerospace and medical markets. As an Indianapolis-based company, Haggard & Stocking services both national and international customers with ease. Haggard & Stocking offers a broad array of products and services including cutting tools, abrasives, safety products, material handling and fasteners. These products are conveyed through specialized programs such as vending solutions and RFID processes that are designed to meet the specific needs of our customers. For more information about Haggard & Stocking, visit www.haggard-stocking.com.
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