Two subsidiaries of Japan-based NSK Ltd. plan to spend $30.2 million to expand their manufacturing operations in Franklin, the company announced Friday.
NSK Corp. and NSK Precision America Inc. said the project will allow them to hire 46 additional workers by 2016 at their 63-acre corporate campus.
The companies manufacture and supply roller bearings, ball bearings, precision-ground ball screws and other automotive components for the industrial and automotive industries.
The subsidiaries already have 400 full-time employees in Franklin and more than 2,400 employees nationally.
NSK said it equip and renovate a 160,000-square-foot facility and a 75,000-square-foot building, allowing it to improve production with additional taper-rolling bearing lines and linear-motion equipment.
The Indiana Economic Development Corp. offered the company up to $225,000 in conditional tax credits and up to $100,000 in training grants based on the company's job-creation plans. The city of Franklin will consider additional tax abatement at the request of the Johnson County Development Corp.
"NSK has been manufacturing in Franklin successfully for more than 20 years," NSK Americas CEO Brian Lindsay said in a prepared statement. "I am delighted that we are still able to grow and develop new technologies and processes here in Franklin where we find a willing and qualified workforce together with extremely supportive state and local governments.”