Tsuda Industries Co., Ltd., a Japanese automotive parts supplier, will invest $56.2 million 155,000 square foot production facility in Hancock County, Indiana,'s Mt Comfort Air Park East, creating up to 116 new jobs by 2016.
The firm, which manufactures a variety of automotive transmission and chassis components, already has 1,500 employees at three facilities in Japan and additional plants in China, Thailand and Indonesia. The Mt. Comfort, Indiana, facility near Interstate 70 will be its first North American manufacturing plant.
"Indiana is proud to be the only state with two Toyota plants and the thousands of additional jobs from great suppliers like Tsuda," said Gov. Mitch Daniels. "We're glad to welcome yet another great Toyota partner to our state."
"Indiana's rich history in automotive manufacturing, skilled workforce and low-cost, pro-business environment makes it the perfect location for Tsuda's first North American investment," said Kenji Kunieda, president of Tsuda. "Tsuda looks forward to becoming a part of the Hoosier automotive landscape, a place that is not only the `Crossroads of America' but a place that offers our company a strong competitive advantage in terms of reaching North American and global markets."
As an incentive $1,160,000 in performance based tax credits and up to $150,000 in training grants will be provided to Tsuda by the Indiana Economic Development Corporation. In addition, Hancock County provided the firm with property tax abatements.
"We are happy that Tsuda has chosen Hancock County for its project," said Tom Stevens, president of the Hancock County Commissioners. "The community is ready to welcome Tsuda to our industrial base and looks forward to working with them in the future to ensure their success."