KOKOMO, Ind. (WLFI) - An automaker is investing hundreds of millions and adding well more than a thousand positions at transmission and metal casting plants in Indiana.
Thursday morning, Chrysler announced it is adding 1,250 jobs by 2015 to increase production of fuel-efficient transmissions in north-central Indiana. It's also investing $374 million in area plants.
"Chrysler's choice of Indiana for this landmark project puts all eyes on the Hoosier State today," said Gov. Mike Pence. "We are thrilled with the number of career opportunities for Hoosiers, and this marks another important step in the resurgence of the U.S. automotive industry. With our convenient location, talented workforce and pro-business policies, it is no surprise that Indiana is an integral part of this comeback story."
Here's the breakdown.
The Kokomo transmissions plant, Kokomo casting plant and Indiana transmission 1 plant will receive $212 million for equipment and tooling, and 400 jobs will be added. Work on the facilities is expected to begin in the second quarter of this year, with equipment and tooling installation anticipated to begin in the fourth quarter.
Additionally, Chrysler is investing $152 million into the former Getrag facility in Tipton and turn it into a transmission plant, which will add 850 jobs. The site should be operational by the end of 2014.
That brings the total amount of Chrysler's U.S. investments to nearly $5.2 billion since 2009.
"I want to thank the state and local officials who worked with us to make these investments possible. Together, and with the support of our employees, I can assure you that it is truly a privilege for Chrysler to be able to contribute to the growth and development of Indiana," Chrysler Group Chairman and CEO Sergio Marchionne said.
This investment in Tipton will make it the largest transmission installation in the world.
Chrysler currently has three transmission plants and a metal casting plant in the Kokomo area that employ a bit more than 6,000 people.
The Indiana Economic Development Corporation offered Chrysler up to $11,500,000 in conditional tax credits and up to $200,000 in training grants based on the company's job creation plans. The tax credits are performance-based, which means until Hoosiers are hired, the company is allowed to claim incentives. The cities of Kokomo and Tipton have approved additional tax abatement.
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