ASH Industries, a custom molding manufacturer that produces specialized products ranging from surgical devices to laser light show components, announced it would invest $5 million to expand its Lafayette Parish facility.
The project will create 85 new direct jobs with an average annual salary of $40,600 plus benefits while retaining 67 jobs. Louisiana Economic Development estimates the project will result in 120 indirect jobs, for a total 205 new jobs in Louisiana’s Acadiana Region.
The project will double the size of ASH’s manufacturing floor by adding 20,000 square-feet of workspace.
The company, established in 1991, will add new equipment including a chiller, a 125-foot expanse crane and water cooling equipment for machinery.
“ASH Industries is optimistic about the future of manufacturing in Louisiana and so far has launched phase one of a three-phase program to invest in jobs in our community,” company President Hartie Spence said. “The ingredients of economic development in our industry are manufacturing space, a solid employee base and the latest in cutting-edge manufacturing equipment. ASH’s current expansion will directly support and increase the services that we can provide customers who appreciate the benefits of having their products manufactured in our state.”
To secure ASH’s expansion in Lafayette, the State of Louisiana offered the company a competitive incentive package that includes the services of LED FastStart, ranked the No. 1 statewide workforce development program in the nation for the past 12 years. The company is also expected to participate in the state’s Enterprise Zone and Industrial Tax Exemption programs.