Italy-Based Auto Component Manufacturer Corum USA Invests $1.1 Million In Fort Wayne, Indiana Plant
Area Development Online News Desk (10/10/2013)
Coram USA LLC, a global manufacturer of automotive components, will invest $1.1 million to expand its Fort Wayne, Indiana, production facilities, creating up to 35 new jobs by 2016.
The company, which is a subsidiary of the Italy-based Coram Group, will lease, renovate and equip a 20,000 square-foot facility in Fort Wayne. Coram USA plans to move its warehousing for the North American market from Italy to the new facility and begin production and distribution of steering columns this winter. Coram plans to begin hiring assembly, quality, purchasing and accounting positions later this year.
Founded in 1957, the firm designs, manufactures and sells parts for heavy-duty commercial vehicles, agricultural machines, construction equipment, material handling machines and wind generators. The company, which also has facilities in Italy and Taiwan, serves customers throughout the world.
"Coram Group is a dynamic company that is present in different parts of the world, and we were very impressed by the skills of the people we initially met, and by the efficiency of the organizations deputed to attract investments in Fort Wayne," said Angelo Piantoni, President of Coram USA. "Here, we will produce high quality products for American vehicles, and we will bring here our experience, passion and know-how, to grow in the United States."
"When presented with so many options, international companies like Coram choose Indiana for its world-class business environment," said Victor Smith, Indiana Secretary of Commerce. "Indiana has the best manufacturing workforce in the nation. If you add this to our central U.S. location and pro-growth policies, it becomes clear why so many international companies recognize Indiana as a state that works."
As an incentive, the Indiana Economic Development Corporation offered Coram USA LLC up to $215,000 in conditional tax credits and up to $50,000 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. In addition, the city of Fort Wayne will consider additional tax abatement at the request of the Fort Wayne-Allen County Economic Development Alliance.
"The city is excited to have another international company choose Fort Wayne for its North American headquarters," said Fort Wayne Mayor Tom Henry. "We are excited to be able to provide a prosperous and thriving environment for Coram to continue to grow."