National Stamping and Fabrication Announces Investment in J.M. Hutton & Company, Expanding Richmond Operations and Creating 37 New Jobs

RICHMOND, Ind. (July 27, 2026) – National Stamping and Fabrication, the new owner of J.M.  Hutton & Company, announced a major investment in the Richmond-based manufacturer specializing in precision metal fabrication. The $6.2 million investment will expand the company's operations in Richmond, create up to 37 new high-wage jobs by the end of 2029, retain 50 existing positions, and establish a new truck cab production line to support continued growth in the commercial vehicle market.

The expansion marks National Stamping and Fabrication's first major investment since acquiring J.M. Hutton & Company and reinforces its long-term commitment to growing the company's operations in Richmond. The project will increase production capacity across J.M. Hutton's core manufacturing capabilities, including metal stamping, 2D and 3D laser cutting, welding, and powder coating, while supporting new business opportunities in the commercial vehicle market. By the end of 2029, the company plans to create up to 37 new full-time positions with an average hourly wage of $35.38.

"J.M. Hutton has built an outstanding reputation for quality, precision, and customer service," said Rick Grise, President and CEO of J.M. Hutton & Company. "As the new ownership team, we are committed to building on that legacy by investing in our people, expanding our capabilities, and creating new opportunities for growth. Richmond offers the skilled workforce, business climate, and community partnerships that make it the right place to invest for the future."

To support the project, the Indiana Economic Development Corporation (IEDC) committed more than $300,000 in performance-based Economic Development for a Growing Economy (EDGE) tax credits, contingent upon the company's investment and job creation commitments. The Economic Development Corporation of Wayne County Board of Directors also approved $73,000 in Economic Development Income Tax (EDIT) funding to support the expansion. In addition, the City of Richmond is considering a tax abatement for the project.

"J.M. Hutton's continued investment demonstrates the strength of Wayne County's manufacturing ecosystem," said Valerie Shaffer, president of the Economic Development Corporation of Wayne County. "Manufacturers choose to grow here because of our skilled workforce, collaborative industry network, and strong partnerships that support long-term 
success. The new ownership team's investment in the Richmond operations signifies their longterm commitment to the community."

Manufacturing remains the foundation of Wayne County's economy, with a diverse network of companies specializing in advanced manufacturing, metal fabrication, food processing, plastics, automotive components, caskets and funeral products. National Stamping and Fabrication's investment in J.M. Hutton & Company further strengthens Richmond's role as a center for advanced manufacturing and the region's ability to support business growth through talent, 
infrastructure and strategic partnerships.

The full Indiana Economic Development Corporation announcement regarding this project is 
available on the IEDC website.
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About the Economic Development Corporation of Wayne County
The Economic Development Corporation of Wayne County (EDC) is a non-profit organization 
dedicated to leading business and community development efforts in Wayne County, Indiana, by 
attracting new investment, retaining and expanding existing businesses, and improving the 
county’s quality of place.
Learn more at whywaynecounty.com

National Stamping and Fabrication (dba J.M. Hutton & Company)
National Stamping and Fabrication is the parent company of J.M. Hutton & Company, a 
Richmond, Indiana-based manufacturer specializing in precision metal fabrication.
Learn more at https://www.jmhuttonco.com/

About the Office of Commerce
The State of Indiana’s Office of Commerce was created by Governor Mike Braun to align and 
accelerate the state’s economic development efforts and is led by Indiana Secretary of 
Commerce Chuck Goodrich.
Learn more at https://iedc.in.gov