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