Magna Powertrain of America, Inc., an automotive components manufacturer, plans to invest $11.5 million to expand its Muncie, Indiana manufacturing center, creating up to 76 new jobs by 2016.
As an operating group of automotive parts supplier Magna International Inc., Magna Powertrain produces powertrain systems and components for the global automotive industry. The company, which operates two facilities in Muncie, produces about 35,000 drivetrain components daily at its Muncie facilities.
The company, which has approximately 290 full-time employees in Indiana, will add new equipment to its 200,000 square-foot facility located at 4701 S. Cowan Road in Muncie. The expansion, which will be complete by early 2014, includes equipment for a new automotive component manufacturing and assembly line to accommodate new business from General Motors. The firm plans to hire operators, manufacturing engineers, quality engineers and controls engineers in the third quarter of 2013.
“We are pleased to enter the next phase of our expansion in Muncie," said Tom Rucker, Vice President, Metal-Forming Solutions, Magna Powertrain. "Through our continued investment, combined with the support from our business and municipal partners, we will continue to increase our competitive advantage and execute our plan for sustained growth."
"Magna's growing presence is extraordinary news for our community," said Jim Williams, Chairman of Board for Delaware Advancement Corporation and the Muncie-Delaware County Economic Development Alliance. "Magna has become a real pillar in the community through their continued investment and job growth.”
The Delaware County Council approved additional tax abatement on the equipment investment at the request of the Muncie-Delaware County Economic Development Alliance. The Indiana Economic Development Corporation offered Magna Powertrain of America, Inc. up to $400,000 in conditional tax credits and up to $75,000 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.
"Magna Powertrain has lots of places to put new work, and their continued investment in our community is a testimony to the quality of Muncie and Delaware County's workforce, business environment, and overall quality of place to do business," said Larry Bledsoe, president of the Delaware County Commissioners. "We are excited about this investment and pledge our present and future assistance to help the Muncie facilities grow and prosper."