An auto parts company is planning to spend nearly $11 million on new equipment for a southern Indiana factory.
The Seymour City Council this week approved a 10-year phase-in of property taxes for the investment by Valeo at its automobile lighting factory where it now has about 1,600 workers.
The Tribune of Seymour reports the French company told city officials that the installation of new presses, molds and other machinery is scheduled to begin early next year and be finished by year's end. The company says it expects to 18 jobs at the factory about 60 miles south of Indianapolis.
Jackson County Industrial Development Corp. director Jim Plump says news of Valeo's plans is a good way to end the year.