China-based Nanshan America Co. will invest $98.5 million to construct a manufacturing facility and office building in Lafayette, creating up to 150 new jobs in the next two years, Indiana economic development officials announced Wednesday afternoon.
The Indiana Economic Development Corp. offered the manufacturer up to $1.3 million in performance-based tax credits based on the company’s job-creation plans. The city of Lafayette will provide additional property tax abatement and it will partner with Tippecanoe County to provide additional funds for training.
Nanshan America manufactures aluminum industrial components for customers in the commercial transportation, automotive and industrial machinery industries.
Nanshan America is a division of Nanshan Group, which has about 40,000 employees worldwide and more than $5.8 billion in annual revenue. The facility in Lafayette will be Nanshan’s first U.S. manufacturing operation.
Construction is set to begin in the spring, with completion expected in 15 months. The plant and office building will be located in Park 350, one of the state’s certified shovel-ready sites.
Hiring for assembly, supervisory and clerical workers will begin in the fall.
State officials said the project is a result of Gov. Mitch Daniels’ economic development trip to Asia in November.