The Herald Bulletin

Morning Update

Local News

January 24, 2013

Local startup will expand, add 16 jobs

ANDERSON, Ind. — Another local company says it’s planning to expand and add jobs in Anderson.

Coeus Technology, a startup based in the Flagship Enterprise Center business park, said it plans to hire 16 employees over the next four years, with an average hourly wage of $15 and payroll of about $400,000 per year.

The expansion would involve moving some of the manufacturing for its products — such as Monofoil and Ultra 7, which help protect surfaces from mold, algae, bacteria and viruses — to Anderson. Most of the manufacturing is currently outsourced to Illinois and Wisconsin.

That could happen as early as mid-May, said Coeus CEO Nathan Richardson.

He said that would include bottling, packaging and delivering. The company could produce between 3.5 to 5 million gallons of its products per year when it’s operating at full capacity.  

The jobs would mainly be in production, warehousing, management and office staff positions, he said, and depending on how the expansion goes, there could be more coming.

“We plan on staying in Anderson for a while, and bringing more new jobs,” he said.

The announcement comes on the heels of two others recently made at Flagship, including the grand opening of Honda parts supplier Greenville Technology, Inc. and one from Keihin North America, which said it would soon consolidate its corporate headquarters to Anderson.

“We welcomed them to our community with significant job creation, technology, impact, and national attention,” said Flagship CEO Chuck Staley. But “the fact is, we need both large and small companies to reach our goals.”

To help fund the expansion, the city committed $75,000, which Coeus can only use to purchase bottling and packaging equipment. The company expects to spend another roughly $85,000 for the project.

According to a release, the city’s financial incentive also allows the city to take advantage of Certified Technology Park revenue from the state, which it can draw off many businesses located at Flagship.

Find Baylee Pulliam on Facebook, on Twitter @BayleeNPulliam or call 648-4250.

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