American Mint expanding, to add jobs
With a $4 million North American headquarters expansion slated to be completed in mid-2012, Upper Allen Township-based collectibles company American Mint says it’s poised to add another 25 to 30 jobs over the next three years.
The U.S. subsidiary of Swiss company HMK GmbH saw sales grow by 40 percent in 2010, President Kevin Sacher said. In the process, 19 jobs were added, bringing the local facility’s total to 70.
“We were able to find some products that had appeal to customers and we were able to get those to customers in an efficient way,” said Sacher, citing the direct-mail marketing and distribution of coins, knives, die-cast replicas and other memorabilia.
After picking up more than 131,000 new customers in 2010, Sacher said, the growing business should support the new jobs. However, the physical expansion of the Upper Allen facility in the Rossmoyne Business Center is needed to house the growth, he said.
Earlier this year, American Mint obtained a five-year Local Economic Revitalization Tax Assistance, or Lerta, exemption on the 4.2-acre commercial/industrial lot it is building on in Cumberland County. The company was eyeing Florida and other places with distressed real estate opportunities for relocation, Sacher said.
Lerta is a property tax abatement program often used to revitalize blighted or deteriorated properties. For a Lerta to be issued, approval must be granted by the municipality, school district and county.
“Because of these benefits, it made the numbers work to stay here,” Sacher said.
Once construction ends at the facility — a project that will nearly double its size to about 50,000 square feet — American Mint will be looking to diversify its product line, he said.