Fukai Toyotetsu Indiana Corporation (FTIC), an automotive supplier, will invest $56.9 million to expand its operations in Jamestown, IN creating up to 103 new jobs by 2020.
The company, a Japan-based joint venture between Fukai Mfg. Co., Ltd. (Fukai) and Toyotetsu, will double its current 125,000-square-foot facility to 250,000 square feet. The new facility, which will house one new blank/progressive press and two transfer presses, will allow the company to nearly double production of stamping and welding body structural automotive parts for Subaru of Indiana Automotive, Inc (SIA).
“FTIC selected Jamestown, Indiana, to be close to our main customer, Subaru of Indiana Automotive,” said FTIC president Satoru Fukai. “Indiana has a long-term sister relationship with Tochigi Prefecture, which is a location for Fukai Manufacturing. Indiana is very competitive with labor, education and logistics, which provides future business opportunities.”
FTIC plans to begin hiring next spring, ramping up its hiring in areas including welding, stamping, quality assurance, machine maintenance, die maintenance, conveyance and engineering.
“Indiana is home to the highest concentration of manufacturing jobs in the country, and the impact of Subaru’s historic investment in Lafayette is benefiting Hoosier companies across the state,” said Indiana Secretary of Commerce Jim Schellinger. “Indiana is home to more than 500 automotive suppliers like FTIC, helping assemble more than 1 million cars each year. We look forward to FTIC’s continued growth in Indiana.”
The Indiana Economic Development Corporation (IEDC) offered FTIC up to $900,000 in conditional tax credits and up to $200,000 in training grants based on the company’s job creation plans. These incentives are performance based, so until employees are hired, the company is not eligible to claim incentives. Jamestown and Boone County will consider additional incentives at the request of the Boone County Economic Development Corporation.
“We are honored that FTIC has chosen to expand its operations in Jamestown,” said Boone County Commissioner Jeff Wolfe. “FTIC is a strong community partner, and we look forward to seeing their continued growth here in Boone County.”
FTIC is one of more than 260 Japanese establishments in Indiana that together employ more than 53,000 workers. Among all U.S. states, Indiana has the largest amount of Japanese investment per capita. With more the than 1 million cars assembled in Indiana each year, the state is home to the second-largest automotive industry in the nation.
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