Rushville, Ind. – 15 May 2014 - INTAT Precision, Inc., a subsidiary of Japan-based Aisin Group Companies, plans to invest $22.7 million and create up to 40 new jobs by 2016 in its Rushville operations. During its first phase of growth, INTAT will renovate and equip its 375,000 square-foot production facility to produce structural steel parts for the automotive industry, which Aisin is currently manufacturing in Japan. Within the next two years, the company plans to construct a new 50,000 square-foot facility to house the expanded operations.
“Japanese businesses are on the rise in Indiana, with Hoosiers enjoying an upsurge in growth and investment from these companies in all corners of the state,” said Eric Doden, president of the Indiana Economic Development Corporation. “Indiana is proud to be a state that works for their investment, with a business climate that promotes growth and job creation. As our largest Asian trading partner, it is evident that Indiana’s bond with Japan is strong and only growing stronger.”
“INTAT is excited to bring this new production process into the Rushville operation, which will generate job opportunities,” said Brad Rist, vice president of INTAT. The company currently employs approximately 350 full-time Indiana associates and plans to begin hiring for its first expansion phase this December.
Founded in 1988, INTAT manufactures brake, chassis and power train components for the automotive industry, primarily serving Toyota. With its growth, the company plans to add three production lines in Rushville, which will require supplementing its manufacturing floor with new die quench presses that produce structural steel parts that are stronger, lighter and cheaper than traditional processes.
The Indiana Economic Development Corporation offered INTAT Precision, Inc. up to $400,000 in conditional tax credits based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Rushville will consider additional incentives at the request of the Rush County Economic and Community Development Corporation.
Just last week, INTAT’s sister companies Aisin Chemical Indiana and Aisin Drivetrain announced plans to invest $45.35 million in their Crothersville operations, together creating up to 74 jobs in the coming years. This follows Governor Mike Pence’s jobs and economic development mission to Japan last year, where he met with executives from Aisin and learned about Aisin’s 10 companies and nine operations across the Hoosier State.
Source: Indiana Economic Development Corporation