Columbus, IN: The Columbus City Council approved a 10-year tax abatement for Hoosier Tool & Die Co. that will retain 88 jobs and could add 47 more by 2017. The company plans to make and assemble the components for a ground-breaking tactical shotgun. The weapon operates with a patented gas system that allows the shotgun to efficiently cycle low-load ammunition. The U.S. Marshall Service has placed an initial order to begin field testing. The company plans to sell about 1,000 Fostech tactical shotguns in 2014. The company currently sells after-market parts for a variety of firearms. The State of Indiana supported the company with job creation tax credits and training dollars.
FairWinds Advisors was retained for site selection and incentive negotiation on behalf of Hoosier Tool & Die and Fostech.