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Tax Cut Legislation Helps Aerospace Manufacturer Invest in Future Success

MSP Aviation opened its doors in 1943.  76 years later and a lot of changes later, they are still in business and have found their niche as the only aerospace parts manufacturer in the state of Indiana.  John Goode bought the company in 2002 and moved it from Gnaw Bone to Bloomington where he had more 50.000 square feet of vacant space left over from a company he had just sold. 

"I wanted to keep the company in Indiana for a number of reasons," Goode said.  "Indiana has a great tax abatement program, the location is an enterprise zone, and the quality of people is fantastic.  Bloomington is also the perfect location for distribution.  Most aerospace manufacturers are on one of the coasts.  MSP is in the middle of the country, so we can get our parts where they need to be in a short amount of time and at less cost."

Since taking over MSP, Goode has worked actively with the South Central SBDC in Bloomington and used their expertise to develop streamlined strategies and export opportunities for his company.  With their help, Goode saw 1000% profit growth during the first 13 years, which hasn't let up; in 2018, MSP continued trending upward by another 15%.   As for employees, he started with six, now has15, and works with the Hoosier Hills career Center and Vincennes University through their manufacturing training programs to find talent to produce the products he needs to fill aerospace orders and continue company expansion.

Goode said that the Tax Cut and Jobs Act of 2017 definitely had a positive impact on the growth of his business.  "I started seeing a difference 18 months ago in the last quarter of 2017," Goode said.  "One of the first things my team told me is that they were seeing an increase in their paychecks which is great for morale.  I also saw that economic conditions were better and that the company as a whole had more money to play with so we were able to invest heavily in new equipment."

Goode said that his plans for the future include continued expansion and succession planning.  "There are a lot of young people coming up that I am excited to work with planning for the future of MSP," he said.  "Finding employees with the skill sets needed to do our jobs is an issue.  We offer tuition reimbursement for employees interested in broadening their skill set.  I am also excited about the trade programs being developed through Hoosier Hills, Vincennes, and the state grants coming available to get students the training they need to do our jobs.  We need them.  New employees, with the proper training in manufacturing will help us efficiently use the new equipment we invested in, decrease our back-log, get product out the door faster, and continue to grow."

For information on SBA resource partners near you that can help you start, grow, expand and recover your small business, click the Local Assistance tab on www.sba.gov/in

Company Name: 
MSP Aviation
Location: 
Bloomington