Getrag announcement planned this afternoon

Gov. Mitch Daniels and economic development officials this afternoon are expected to announce plans for a long-anticipated transmission plant in Tipton that eventually could bring 1,200 jobs.

German transmission maker Getrag Corporate Group owns land near U.S. 31 and State Road 28 north of Indianapolis. Earthmoving has started.

The project, estimated to cost $560 million, would be the largest since Honda Motor Co. announced it would assemble cars at a new plant near Greensburg in fall 2008.

The Kokomo Tribune has reported that the new plant will make transmissions for a new Chrysler minivan.

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