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Auto Supplier Investing $24M in Indiana Operations

10/29/2008
Vuteq USA, a supplier of interior automotive parts, will invest more than $24 million to expand its facilities in Princeton, Indiana, according to the Indiana governor's office. The Japanese-owned company plans to create 50 new jobs over the next year as part of the project. Vuteq will build a 130,000-square-foot manufacturing facility adjacent to its current operations, with construction slated to begin in November and be completed in July 2009. "Vuteq has been part of Gibson County for more than seven years and during this time we have found it to be a great place to conduct business and for our team members to reside," says Mike Tracey, the Princeton plant manager. "The area has provided a terrific work force, and we are extremely pleased with the team members we have been able to recruit and retain." Vuteq has been offered up to $650,000 in performance-based tax credits and up to $35,000 in training grants from the state; local governments will provide property tax abatement.

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