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Master Power Transmission (Master PT) of Greenville, SC, will invest $3.6 million to renovate and equip an additional 30,000 square feet of production area in its current 220,000 square-foot facility in Columbus, IN. The company produces industrial gearboxes that are used in various warehousing and manufacturing operations.
“Our manufacturing sector continues to see significant growth despite the difficult global economy, and Master PT’s announcement is another boost to this important industry,” said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation.
Master PT, which currently has 56 full-time employees in Columbus, has already begun hiring new machinist and manufacturing associates. With the facility expansion, the company expects to create up to 48 new jobs by 2016.
The company is the combination of two brands: Reeves, established in Columbus in 1878 and Master established in Dayton, OH in the 1920s. Master then relocated to Columbus in 1961.
The Indiana Economic Development Corporation offered Master Power Transmission up to $300,000 in conditional tax credits and up to $100,000 in training grants 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 Columbus approved additional property tax abatement at the request of the Columbus Indiana Economic Development Board.