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Chrysler plans 400 more jobs, $212M expansion in Kokomo

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Chrysler Group LLC on Monday night said it was planning to spend as much $212 million on another expansion in Kokomo that could add more than 400 jobs.

The Kokomo Common Council  on Monday night approved a property tax abatement for Chrysler in hopes of luring the investment.

Chrysler last week confirmed it was seeking the tax incentives but hadn't provided details.

Earlier in the day, the Auburn Hills, Mich.-based automaker said it planned to spend $162 million to open a transmission plant in nearby Tipton that will employ up to 850 people.

The Tipton County Board of Commissioners on Monday approved a 10-year tax abatement worth $2.5 million to help the company launch production in an existing, nearly 800,000-square-foot plant at U.S. 31 and State Road 28, about 25 miles north of Carmel.

The automaker emphasized on Monday that plans for the projects are not yet final. Executives continue to negotiate building purchases, among other crucial steps.
 
The company has three existing transmission plants and a casting plant in Kokomo. The four plants already employ more than 5,000 people.
 
Combined with the introduction of eight-speed transmissions the company is putting in certain Chrysler 300s and Dodge Chargers, Chrysler has invested about $1.3 billion in Kokomo since emerging from bankruptcy in 2009.

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  • Employment opportunities
    What is the website to apply for future opportunities at the Chrysler plant in Tipton, IN????
  • Thanks Mitch
    RTW at work - oops they were already here. It must've been DST.

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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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