Spear Corp. named one of 20 'Companies to Watch'
ROACHDALE -- Putnam County-based Spear Corp. has been named one of 20 Indiana "Companies to Watch" by the Office of Small Business and Entrepreneurship (OSBE).
Based west of Roachdale in Franklin Township, Spear Corp. recently expanded with a new 12,000-square-foot headquarters. A $1 million investment, the new building houses office space and warehouse space for parts distribution.
Employing 40 individuals prior to the project, the company expected to add 10 jobs along with the expansion.
"We are honored to be selected as one of the Indiana Companies to Watch," Spear President Brian Spear said. "The excellence of our employees drives our success.
"We also couldn't do this without our customers and their loyalty to Spear Corporation. We are excited about our future here in Putnam County."
Founded in 1984 by Jim Spear, the family-owned company designs, installs and services swimming pools primarily for commercial and public service clients. With customers throughout Indiana, Illinois, Kentucky and Ohio, Spear has also worked on some high-profile projects that have carried it beyond its regional customer base.
These projects have included the installation of temporary pools in Bankers Life Fieldhouse, Herald Square in New York for the "Swim for Relief" with Diana Nyad, as well as a pair of 50-meter pools for the 2012 U.S.A. Swimming Olympic Trials in Omaha, Neb.
Through such projects, the company has also maintained relationships with local customers, including work on the Greencastle Aquatics Center and even installation of a new water filtration system for the Town of Russellville.
Jim Spear remains the CEO, with son Brian serving as president.
Lt. Gov. Sue Ellspermann announced the award winners Wednesday.
"I congratulate each of the Hoosier businesses on being selected as one of Indiana's 'Companies to Watch' in 2015," Ellspermann said. "In Indiana we celebrate successful companies and commit to policies that support and encourage continued growth. We know that most future job expansion will occur with companies like these being honored. They are already having a positive impact on our economy and we look forward to their greater contributions in the decades to come."
Presented by the State of Indiana and OSBE and endorsed by the Edward Lowe Foundation, 'Companies to Watch' recognizes privately held Indiana businesses that have experienced exceptional growth and are well positioned for even greater growth in the future.
Spear is the second Putnam County company to be so honored, with Scorpion Protective Coatings of Cloverdale having won the award in 2011.
Eligible companies must have six to 150 full-time employees and have generated between $750,000 to $100 million in annual revenue or capital.
The 20 "Companies to Watch" were named after evaluating 50 nominations for the awards and represent industries ranging from real estate and construction/manufacturing to information technology and food services.
During 2014, these chosen companies had combined revenues in excess of $196 million and created 148 new jobs. This represents an increase of 27.5 percent from 2013. Projecting continued growth through 2015 includes a 23 percent revenue increase and 16 percent job growth for the standout companies.
Besides Spear Corp., the honored companies include Mesh Systems, Carmel; Design Collaborative, Ft. Wayne; Richey Athletics, Frankfort; Hudec Woodworking, Griffith; Annex Student Living, Blue Pillar, CSCI Consulting, Fineline Printing Group, Guidon Design Inc., M&M Holdings I Inc., MS Inspection & Logistics, Perceivant and Renaissance, all of Indianapolis; Titus Bakery LLC, Lebanon; Creek Run LLC Environmental Engineering, Montpelier; Pioneer Packaging LLC, Portland; Tech Castings LLC, Shirley; Gibson, South Bend; and DK Pierce & Associates Inc., Zionsville.
The 2015 "Companies to Watch" will be honored at a ceremony at the Indiana Roof Ballroom in Indianapolis on Aug. 27. Tickets for the dinner and ceremony are available at www.inctw.org and questions may be emailed to Noelle Dunckel at ndunckel@osbe.in.gov.
The Indiana Office of Small Business and Entrepreneurship oversees the Indiana Small Business Development Center, the Procurement Technical Assistance Center and the Indiana Small Business Ombudsman. The OSBE staff helps grow the Indiana economy by assisting entrepreneurs and small businesses through programs and personal consultation.
For more information on OSBE and to see how Indiana is "the state that works" for entrepreneurs visit www.isbdc.org/osbe.