Article Written By: Clayton Arnold
If you’re thinking about how to sell metalworking in Indiana, you’re not alone. Indiana ranks at or near the top of many business and manufacturing lists every year.
With the state ranking first in the country for manufacturing workforce by Business Facilities in 2017, there’s a huge pool of potential laborers to draw from. It’s also in the top five states for businesses according to Chief Executive in 2018. This means that companies that want to stand out to flock to the state to open businesses. Those businesses need metalworking equipment to get started, and often begin their entrepreneurial adventure with used machinery in order to save capital during those expensive early years.
Table Of Contents:
Indiana has a long, proud history of manufacturing. Beginning nearly 150 years ago, shortly after the Civil War, Indiana’s place on the railway made it a prime candidate for early glass and rail car manufacturing. During the first 20 years of the twentieth century, any number of manufacturers took advantage of Indiana’s central location, inexpensive land prices, lower costs of living and similar aspects that made the state promising as a manufacturing hub, many aspects of which survive to this day. East Chicago, Gary, Muncie, and Indianapolis integrated enormous steel mills to encourage processing of this popular metal.
Following a strong downturn in the Great Depression, Indiana’s factories went into strong production during the Second World War, returning prosperity to the state and bringing it to 8th among the 48 states for military armament production. The post-war era pushed the state to 20th for personal income among the 50 states and the District of Columbia. But like many states, the manufacturing sector began to decline to foreign trade in the late 1970s, especially during the steel crisis. A renewed dedication to American manufacturing is bringing prosperity back to Indiana, while business initiatives are making it a great place to set up a business.
If you’re going to sell metalworking equipment in Indiana, it’s important to know what the state produces. In the past, Indiana has placed behind neighboring Ohio to fall to third in automotive manufacturing but passed Ohio to take second place in 2013, bringing $9.9 billion into the state every year and making one out of every ten new vehicles on the road. This is possibly due to federal government assistance bailing out major domestic manufacturers during the deep recession that began in 2008.
The state also has a great deal of business tied up in medical manufacturing every year. With pharmaceutical giants based there, it isn’t surprising that many medical equipment manufacturers also call the state home, with Warsaw being home to almost a third of the world’s $38 billion orthopedic industry, with Indianapolis and Bloomington rounding out the state’s medical device manufacturing. As a strong coal-producing state, Indiana also delivers primary metals manufacturing in steel and aluminum for other manufacturing purposes. This all leads up to a $102.59 billion statewide production from manufacturing.
Indiana has some fabulous incentives to bring employers to the state, making it popular for entrepreneurs. Let’s start by looking at the state’s tax benefits. It’s second in the property tax index, meaning that new businesses won’t pay as much to set up a new factory or metalworking shop. It has a schedule of tax cuts through 2021 to reduce the state’s corporate income tax rate from 6.4% to 4.9%. It’s rated 10th in the nation for the best state tax climates.
The state also has several incentives in place to help encourage new businesses to start in the state and existing businesses to relocate to Indiana. The EDGE Payroll Tax Credit provides tax credits for adding jobs and capital investment for over ten years. The Headquarters Relocation Tax Credit provides a tax credit for companies that move their main offices to Indiana. The Hoosier Business Investment Tax Credit provides benefits in exchange for job creation for two calendar years. There are also grants and funding available for industrial development and revitalization, as well as many other benefits available for businesses, including the Capital Access Program, opportunity zones, the Indiana Small Business Development Center, the Regional Cities Initiative and many, many more.
When it comes to the cost of labor, Indiana features some of the lowest costs available in the country across several indexes. Lower costs of living mean lower wages. As a right-to-work state, you have some level of protection from unionization, while enjoying a second place on Oregon’s Worker’s Comp Premium Rate list. Indianapolis also features one of the lowest commute times in the country, providing a better standard of living for your workers.
As companies digitize, the technology and machinery they need to keep their business running also continue to evolve. That leaves a wide range of used metalworking equipment available that takes up valuable space or ties up needed capital that could be put to better use by the business. This equipment is very popular with businesses that need to upgrade or replace aging machinery without having to tie up precious resources. But when it’s time to sell metalworking equipment in Indiana, many businesses simply are not sure what to do or whether they should sell at all. That’s where third-party sellers can make a tidy profit in the process.
Selling used metalworking equipment provides a wide range of benefits for Indiana businesses. It can be used to supplement cash flow during difficult economic times, keeping a business running when it would otherwise have to close its doors or lay off valuable team members. It provides a wide range of options for financing new equipment purchases, reducing the amount of capital needed and the risk involved in the overall investment. Selling the equipment frees up precious space in a warehouse or manufacturing plant, which in turn allows for the area to be used for additional production to expand the business or to stockpile materials for manufacturing against volatile market conditions.
Let’s face it – if you can’t sell metalworking equipment in Indiana, you can’t stay in business as a third-party seller. But how does the process work and how do you keep your operation profitable? When you’re first starting out, marketing your machinery can be one of the most difficult parts of making ends meet. It used to be that you had to know the right people and be at the right place at the right time to make a sale. The internet has made this process much simpler, but it still requires having the right tools to get the job done correctly. Aucto is one of the best tools available to boost your used metalworking equipment sales.
When you sell metalworking equipment in Indiana or anywhere else through Aucto, you have the benefit of our focus on delivering the power and speed of e-commerce to your metalworking equipment liquidate. We pride ourselves on being the premier online auction platform for industrial machinery. We’ll help you drive strong results with either online or on-site auctions, allowing you to sell items from anywhere you have a convenient connection to the internet.
When you work with us, you’ll discover that Aucto is THE place for machinery sellers and buyers to connect. Our selling process is always FREE, while our buyers pay only the lowest possible brokerage fees, driving more buyers to our site every day. We provide a user-friendly global platform that is smart while delivering strong reporting features for monitoring, tracking and analyzing activity, historical data, and wish lists. We deliver safe, secure transactions that include real-time payment and shipping tracking. Not all online auctions are created equal, and at Aucto, we leave the competition in the dust.
At Aucto, we provide you with immediate access to our extensive base of established buyers, allowing you to maximize profits from each sale from the very beginning. Our online sales and marketing tools allow you to extend your reach to find the right buyer at the right time.
If you are looking for the best way to go about selling metalworking equipment in Indiana, we at Aucto want to help. Our platform is designed to help companies just like yours easily liquidate their unneeded equipment for the highest price the market is willing to pay.
Have a question about buying used industrial equipment or selling used industrial equipment online? Give Aucto a call at 1 (844) 326-7339 or email at email@example.com, and our team of experienced online auctioneers and customer support team will be more than happy to answer them.
In a capital-intensive industry such as construction, you rely on dependable...
Over the last few years, Aucto has been directly involved in...
Asset recovery within organizations is often one of the last things...
Key Lessons Learned from Decommissioning 30+ Coal Power Plants The world...
Written By: Jamil Rahman