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Pengad/Indy Expanding

Pengad/Indy, Inc. a local printing company since the late 1970’s is expanding again and creating 8 new jobs. Bruce Baldwin, Director of the Muncie Redevelopment Commission assisted the company in procuring a $300,000 from the Muncie Industrial Revolving Loan Fund (MIRLF). The MIRLF is a partner in the Muncie-Delaware County, Indiana Economic Development Alliance.

Pengad LogoThis loan enabled Pengad to purchase a special die-cutting machine that will ultimately result in the creation of eight new jobs in the next six months. The machine will be used to perform a function that Pengad used to have to contract out to another company out of town. This acquisition will allow them to keep the work local and hire new people in Muncie-Delaware County.

Pengad, a local success story, started out in 45,000 square feet of the former Warner Gear facility in downtown Muncie with six employees and sales of just under $1,000,000. Today, their growth shows as they now occupy some 85,000 square feet in the same building, have sixty employees, and have sales in excess of $5,000,000. Their early success can be attributed at least in part to earlier loans from the MIRLF which were consolidated in 1985 into one loan that was fully paid off in 2005.

“Pengad is the type of business every community would love to have,” said Jay Julian, President and CEO of the Muncie-Delaware County Chamber of Commerce. “They are a perfect example of how existing business growth is so important to the financial well being of our community”, added Julian.

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