Allison Transmission is creating up to 205 new jobs by 2013 in Speedway, Indiana. The company, which produces automatic transmissions, will invest more than $89 million in its facility there. Allison will improve existing infrastructure, manufacturing, and equipment with the funds. The company will also produce a new commercial-duty transmission for tractor trailers in Speedway.
"As our company looked at our Speedway campus and thought about future growth and expansion, the critical element we lacked here was room to grow. Today's announcement to redirect 10th Street in front of our Speedway facilities changes all of that and puts our company in a position where we can grow our business, expand our product offerings, hire more people, and expand our global headquarters here in Central Indiana," said Lawrence E. Dewey, Allison Transmission chairman and CEO. "We have been a long-time corporate member of this community and we plan on maintaining our presence here."
The Indiana Economic Development Corporation will assist Speedway in applying for up to $5 million in federal highway funds from the Indiana Department of Transportation. Indianapolis will provide additional infrastructure assistance at the request of Develop Indy.