Iwis Drive Systems LLC, a manufacturer of drive chain parts for agricultural and industrial equipment, will invest $1.5 million to expand its North American headquarters operation in Indianapolis, Indiana. According to the Indiana governor's office, the project will create 40 new jobs over the next three years, more than doubling the company's current work force at that location. The company is a subsidiary of Germany-based Iwis Group. "The growth of Iwis Drive Systems LLC in the United States has developed as our company has created innovative solutions to our customers' needs," says Dan Egenolf, the company's president. "Indiana has provided a great foundation for this growth with access to qualified personnel, a central location, and favorable cost structure to maintain our global competitiveness." The company has been offered up to $235,000 in performance-based tax credits and $28,500 in training grants contingent on job creation from the state; the city will support property tax abatement.
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