Cummins opening new office building, adding 600 professional employees in Columbus, Indiana; this is company's third expansion in state this past year
June 13, 2011
– In the latest sign of its growth and commitment to southern Indiana, Cummins Inc. (NYSE: CMI) today announced that it will add 600 new professional employees in a new office building in downtown Columbus.
The announcement is the third expansion project in southern Indiana announced by Cummins in the past year. Once the new building is filled, in 2013, Cummins will employ nearly 3,000 professionals in a two-block area of downtown Columbus, three times its local presence in 2008.
“Our success in global markets over the past few years allowed us to remain strong during the recent economic downturn and has positioned the Company for a period of accelerated growth,” said Cummins President and Chief Operating Officer Tom Linebarger, who announced the new expansion at an event today also attended by Indiana Gov. Mitch Daniels, U.S. Sen. Richard Lugar, U.S. Rep. Mike Pence and several state and local officials.
“As Cummins continues to grow and prosper around the world, our headquarters city and state also benefit,” Linebarger added. “These well-paying professional jobs will be crucial as we chart a course for future growth both here and abroad, and also will add to the vitality and diversity of Columbus.”
Indiana Gov. Daniels welcomed Cummins’ latest commitment as further evidence of a strengthening state economy.
“All of Indiana is proud of Cummins and the huge global success it is achieving,” said Gov. Daniels. “We are running out of ways to thank the company for its continued commitment to Indiana; I guess we’ll just thank our stars that Cummins is ours!”
The Company expects to break ground almost immediately on the new facility at the corner of Jackson and Fourth streets, a block south of the Company’s corporate headquarters. The 130,000 square foot building will connect to a similarly sized office building that Cummins began occupying in 2009.
The ground floor of the new building, facing Fourth Street, will be converted into commercial space with plans for additional downtown restaurants to be located at the site.
In order to provide parking for these new employees and the employees moving into the former First Financial property Cummins purchased earlier this year, an 800-space parking garage will be constructed along Jackson Street, between Sixth and Seventh streets, for use by Cummins employees during daytime working hours and for the community at all other times.
The City has also agreed to provide $1 million to Cummins to use for the Community Education Coalition’s education improvement initiatives.
“Today’s news is another example of Cummins and the City of Columbus working together to strengthen our community,” said Columbus Mayor Fred Armstrong. “Cummins continues to be a major economic driver in our community, and we remain committed to partnering with the Company as it grows in southern Indiana.”
Added Rep. Pence: “Cummins has been a significant part of the fabric of Columbus for more than 90 years. Cummins is Columbus. Today’s announcement helps secure an even brighter future for both the Company and the entire region.”
In his remarks Linebarger stressed that creating and sustaining a welcoming community is vital to Cummins when it looks to grow its business in communities around the world.
“Once again, Columbus and the state of Indiana have proven to be outstanding partners in our efforts to strengthen our business and grow in southern Indiana,” Linebarger said. “The public-private partnership we have forged with local and state officials in Indiana, as well as with our educational institutions and philanthropic organizations such as Lilly Endowment, is a model for other Cummins communities around the world.”
Cummins reported its most profitable year in Company history in 2010, largely on the strength of significant growth in large international markets such as China, India and Brazil.
The Company expects further strong growth in 2011 as its key U.S. markets recover from the economic downturn, as part of a period of accelerated profitable growth over the next several years.
“Cummins is proof that strength in international markets results in economic and job growth here in the U.S.,” said Sen. Lugar. “By reducing barriers to trade across borders, companies like Cummins can continue to prosper at home.”
In addition to today’s announcement, Cummins has made two other jobs-related announcements in Indiana in the past year:
* In July 2010, Cummins announced a $200 million expansion of its Seymour Engine Plant to create a technical center and manufacturing line to design and produce a new high horsepower engine. The expansion is expected to result in 200 new technical jobs over the next three years and further job growth once the new engine goes into production.
* In October 2010, Cummins announced plans to purchase the former First Financial bank office and branch in downtown Columbus across the street from the Company’s corporate headquarters to use as office space. Cummins has since closed on the property and expects to have 350 employees in the facility by the end of this year.
Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins employs approximately 40,000 people worldwide and serves customers in approximately 190 countries and territories through a network of more than 600 company-owned and independent distributor locations and approximately 6,000 dealer locations. Cummins earned $1.0 billion on sales of $13.2 billion in 2010.
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