WEST LAFAYETTE, Ind.--(BUSINESS WIRE)--Genport SRL, a developer of high-energy electric generators and batteries, announced plans to establish its North American headquarters here, creating up to 20 high-wage jobs by 2015.
The Italy-based company, a provider of products for the military, emergency and medical industries, will invest $2 million to lease and equip office and laboratory facilities at the Purdue Research Park of West Lafayette. The facilities will house the company's hybrid fuel cell research and are slated to be operational this fall.
"Indiana's first-rate business climate is being acknowledged globally thanks to firms like Genport," said Dan Hasler, Secretary of Commerce and CEO of the Indiana Economic Development Corporation. "With our world-class research universities and business-friendly policies, Indiana continues to attract ground-breaking companies and innovative leadership."
Genport, which will partner with the U.S. Department of Defense and the Naval Surface Warfare Center at Crane, plans to begin hiring additional engineers in the coming months.
"We chose to establish our U.S. subsidiary in West Lafayette to benefit from the tremendous environment of the Purdue Research Park and the state of Indiana," said Paolo Fracas, chief executive officer of Genport SRL. "We look forward to networking with the electro-medical and defense industries as well to establish research cooperation with Purdue University."
Genport, which operates two facilities in Vimercate and Milan, Italy, was founded in 2009.
"I am so pleased to welcome Genport to the Purdue Research Park in West Lafayette," said West Lafayette Mayor John Dennis. "Our ongoing partnership with the Purdue Research Foundation continues to attract companies from around the world. The addition of this international company is proof that our local economy truly has a global impact."
The Indiana Economic Development Corporation offered Genport SRL up to $225,000 in conditional tax credits. The Tippecanoe County Commissioners and the City of West Lafayette supports through additional incentives.
"Genport is an important economic partner to West Lafayette and Indiana," said Joseph B. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation. "Genport's plans to collaborate with Purdue on research projects in alternative energy, particularly in area of fuel cell research, will provide a strong collaboration among Genport, Purdue and Indiana."