A Japanese manufacturer that has major operations in Indiana is planning to build a $100 million plant in Anderson that is expected to hire almost 200 workers within the next five years.
NTN Corp. and state economic development officials announced Friday that NTN subsidiary NTK Precision Axle Corp. plans to build the 300,000-square-foot facility on South Layton Road north of 73rd Street.
The company, which makes wheel hubs and constant velocity joint, or CVJ, axles for both two-wheel-drive and four-wheel-drive vehicles, plans to break ground on the plant this spring and begin production in October 2018.
NTK plans to create up to 140 jobs in Anderson by the end of 2020 and anticipates hiring another 58 employees in 2021.
The company said it plans to add salaried positions later this year and will begin hiring for production, engineering and maintenance employees in early 2018.
NTK expects to produce 130,000 products at the plant per month in 2018, increasing its production to 1 million products per month in 2021.
“Our parts make their way to more than 15 different automakers, which translates to one fourth of the cars and light trucks on the open road riding on our products,” NTK President Tadao Okamura said in a written statement. “We are excited for Anderson to become part of our company and we look forward to a long and prosperous relationship with both the city and the state.”
Parent company NTN is a global manufacturer that established NTN Driveshaft operations in Columbus in 1990, an NTK Precision Axle plant in Frankfort in 2004, and broke ground on NTN Driveshaft Anderson in 2015. The company was founded in 1918 and headquartered in Osaka.
Nearly 2,000 of NTN’s employees work in Indiana.
The Indiana Economic Development Corp. is expected to offer NTK Precision Axle up to $1 million in conditional tax credits based on the plans to hire 140 workers by the end of 2020.
The city of Anderson will consider additional incentives at the request of the Madison County Council of Governments.
According to the IEDC, NTK is one of more than 260 Japanese establishments in Indiana that together employ more than 53,000 Hoosiers.