NTN Driveshaft Plans $87 Million Manufacturing Plant In Anderson, Indiana
Resource from: Area Development Online Likes:242
Nov 18,2015
NTN Driveshaft Inc. and its Japan-based parent company NTN Corporation plans to establish a new manufacturing plant in Anderson, Indiana. The company is expected to ultimately create up to 510 new jobs.
The company will invest more than $87 million to establish NTN Driveshaft Anderson, constructing and equipping a new 406,596-square-foot facility at 7625 S. Layton Rd., just west of the Nestle USA plant. The new plant will complement NTN Driveshaft’s existing 1 million-square-foot facility in Columbus, increasing production of drive shafts – a component used to transmit torque and rotation – for the automotive industry. NTN Driveshaft Anderson broke ground on the facility today and expects to be operational by April 2017.
“Despite several recent expansions, our manufacturing plant in Columbus has exceeded capacity due to growth in the automotive industry and the resulting needs of our customers,” said Jim Riggs, President of NTN Driveshaft. “After conducting an exhaustive multi-state search, we selected Indiana for this new facility because of its business-friendly climate and policies, the availability of skilled labor and the strong Hoosier work ethic. Thanks to the coordination of support from the city of Anderson and the state, we are confident that this expansion will drive the success of NTN forward for years to come.”
NTN Corporation, which was established in Osaka, Japan, in 1918, is a global manufacturer of mechanical parts and equipment, such as bearings, drive shafts and production equipment serving customers in the transportation sector. The company established NTN Driveshaft in Columbus in 1990 and NTK Precision Axle in Frankfort in 2004, which together employ more than 1,600 Hoosiers.
As an incentive, Indiana Economic Development Corporation offered NTN Driveshaft Anderson Inc. up to $4,700,000 in conditional tax credits and up to $300,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Anderson has approved additional incentives as well as utility and infrastructure improvements to serve NTN Driveshaft Anderson and to support current and future Flagship Enterprise Park companies.
Governor Mike Pence said, “Today’s announcement further solidifies Indiana as the best state in the nation for business and for advanced manufacturing. Indiana continues to boast the highest concentration of private sector manufacturing jobs in the nation because of our efforts to support businesses by cutting taxes, reducing burdensome regulations and investing in our growing workforce. NTN – both in Japan and here locally – has been a great partner of the state for the past 25 years, and I am proud that they have once again chosen Indiana to create even more quality jobs for Hoosiers.”
(Area Development Online)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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