Aluminum Manufacturing Startup Invests $16 Million to Build Factory
RICHMOND, IN — A newly formed aluminum manufacturer has announced plans to establish a factory in eastern Indiana.
Element 13, a startup maker of aluminum billets used in the aerospace, automotive, construction, and recreation industries, will invest nearly $16 million in a new 60,000-square-foot facility in Richmond, about 70 miles east of Indianapolis.
The company says it sources its aluminum from recycling facilities and converts scrap aluminum into blocks used to produce auto components, aircraft parts, bleachers, and window and door frames.
Element 13 is slated to receive a $146,000 grant to offset construction, equipment, and employee training costs, pending approval of the Wayne County Commission. Officials expect the new factory to create 30 new jobs by 2022.
“Element 13 is very excited and looking forward to becoming a part of the Richmond community,” says Chris Rasmussen, Element 13 president and CEO, in a statement from the Economic Development Corporation of Wayne County.