Tuesday, April 16, 2024
HomeRegional and local newsIndianaFarm equipment company cancels $12.5 million Shelbyville factory project

Farm equipment company cancels $12.5 million Shelbyville factory project

A farm equipment company has canceled a $12.5 million project for moving its corporate headquarters from Tennessee to central Indiana.

Executives of Memphis, Tennessee-based Krone North America Inc. had announced plans for the new Shelbyville facility during a March 2016 event with then-Gov. Mike Pence. Construction never began as scheduled this past spring for the headquarters that was to include a distribution center, training facility and showroom.

Shelby County Development Corp. director Brian Asher said Krone called off the move for business reasons. Asher said Krone has seen a sales decline and was concerned about possible changes in import taxes, farm subsidies and crop insurance, according to a report in the Indianapolis Business Journal.

Krone had projected having about 100 employees at the new facility about 25 miles southeast of Indianapolis.

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