NTN Driveshaft Inc. has been offered $5 million in state incentives to build an $87 million plant in Anderson that is expected to employ more than 500 people, state officials announced Tuesday.
Ground was broken Tuesday on the 406,596-square-foot facility on an 80-acre site at 7625 S. Layton Rd., just west of the Nestle USA plant. The factory, which will produce automotive velocity joints, is expected to be operational by April 2017.
NTN Driveshaft Anderson, a division of Japan-based NTN Corp., told the city of Anderson earlier this year that it would spend more than $140 million on the plant when accounting for construction and equipment costs.
The Anderson City Council voted 7-0 in late August in favor of a 10-year property-tax break for NTN worth about $12 million. The city also is paying for nearly $8 million in infrastructure improvements around the plant as part of an incentive package valued at $25 million.
In return, NTN told Anderson it would employ about 411 workers at the plant making about $46,000 per year, including benefits, by 2019.
The Indiana Economic Corp. on Tuesday said the plant would ultimately create up to 510 jobs, but it did not provide a timetable for the job creation.
The IEDC offered the company up to $4.7 million in conditional tax credits and up to $300,000 in training grants based on the job-creation plans. The company wouldn’t be eligible to claim the incentives unless it meets the job commitments.
NTN says it needs the new plant because its Indiana factory in Columbus, where it has 1,700 workers, has reached capacity. The new plant is not expected to affect employment in Columbus.
NTN said it provides the parts for every automobile company except Volkswagen and BMW.
The company began operating in Columbus in 1990. Its parent was founded in Japan in 1918.
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