A Japan-based automotive industry supplier plans to spend $90 million to expand its manufacturing operations in Indiana, the company announced Tuesday.
NTN Driveshaft Inc. said the expansion in Columbus, about 45 miles south of Indianapolis, could lead to 100 new jobs by the end of 2023.
The company plans to renovate 60,000 square feet in its existing 1.35 million-square-foot facility and add 20,000 square feet. It also intends to increase its forging operations by installing two hot forge presses and other equipment.
NTN Driveshaft is part of NTN Corp., which makes mechanical parts and equipment, such as bearings, drive shafts and production equipment. The company began operations in Columbus in 1991. It employs 2,000 people in Indiana at its facilities in Columbus, Frankfort and Anderson.
The Indiana Economic Development Corp. offered NTN Driveshaft up to $750,000 in conditional tax credits based on the job-creation plans.
The city of Columbus is considering additional tax incentives based on the company's plan to add 74 workers by 2020.