Indianapolis-based Allison Transmission Inc. on Friday announced plans to build a 95,000-square-foot Innovation Center at the corner of 10th Street and Cossell Road in Speedway that will open in 2021.
The facility at its corporate headquarters is expected to create more than 100 jobs.
Allison officials, along with Gov. Eric Holcomb and Indianapolis Mayor Joe Hogsett, announced the project at a ceremonial groundbreaking Friday morning. Officials said the new project, combined with the Vehicle Environmental Test, or VET, facility announced earlier this year, would create more than 300 jobs at Allison.
The Indiana Economic Development Corp. offered Allison Transmission up to $7 million in conditional tax credits and up to $50,000 in conditional training grants based on the company's job-creation plans.
The company announced in February that it would build a $34.5 million, 60,000-square-foot VET facility on the campus of its global headquarters in Speedway that would create 193 jobs with an average wage of $20.93 per hour. The city of Indianapolis approved a $2.7 million tax break on the VET project.
The company said it planned to invest more than $400 million altogether on the Innovation Center, the VET facility and in its core business. It did not specify how much it was spending on each.
The company said it will have immediate openings in engineering, purchasing and marketing, sales and service because of the new projects.
Allison employs 2,900 people worldwide including about 2,600 in Indiana.