Steering parts manufacturer plans local expansion

Bishop Steering Technology Inc., an Indianapolis company specializing in designing rack-and-pinion steering gear for the automotive and motorsports industries, plans to  expand, creating 25 additional jobs by 2014, the Indiana Economic Development Corp. said Friday.

The $10.4 million project will nearly double Bishop’s headcount.

The company, located at 8802 Bash St. on the far northeast side, plans to lease an adjacent 13,000-square-foot building to make room for the expansion.

Bishop is a subsidiary of Bishop Steering Technology Ltd. of Sydney, Australia, which was acquired in January by Germany-based Georgsmarienhutte Holding GmbH.

The IEDC offered Bishop as much as $200,000 in performance-based tax credits for the jobs, and Develop Indy has asked the city to consider property-tax breaks.

 

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