Auto supplier plans $73.5M plant in Boone County

Published on 9/12/2014

 

A Japanese auto-parts supplier plans to invest $73.5 million to build and equip a 151,000-square-foot manufacturing facility in Jamestown, near Interstate 74 in Boone County.

Fukai Toyotetsu Indiana Corp. is expected to create as many as 195 jobs there by 2017, state economic development officials said Friday morning.

Indiana Economic Development Corp. offered the company about $1.2 million in  tax credits and $200,000 in training grants based on its job-creation plans. The incentives are conditional, meaning they won’t be awarded until employees are hired.
 
The state also is giving Boone County as much as $1.3 million from its Industrial Development Grant Fund to help pay for necessary infrastructure improvements.

The county and town also offered local incentives, IEDC said, but details were not immediately available.

The company is a joint venture between Fukai Mfg. Co. Ltd. and Toyoda Iron Works Co. Ltd., which does business as Toyotetsu. Together, the manufacturers have more than 10,000 employees.

Toyotetsu also has production facilities in Kentucky, Texas and Ontario.

Hiring for the new Indiana plant is expected to begin next spring, IEDC said. Positions include manufacturing, maintenance, information technology, distribution, engineering and quality control.

The plant, which will make automotive pillars, body structures and frames, should be operational in 2016.

The deal has been the works for months. Jamestown Town Council and Boone County Commissioners established an economic development area on the 40-acre property on State Road 75 near the interstate in July, the Lebanon Reporter said.

The agricultural land was rezoned in June.

Source: Indianapolis Business Journal

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