ThyssenKrupp Waupaca is expanding its foundry operations in Tell City, Indiana, creating up to 160 jobs by the end of 2012. ThyssenKrupp is the world's largest independent vertical molding foundry.
"We are extremely grateful to Governor [Mitch] Daniels and the Indiana Economic Development Corporation for their tremendous support of ThyssenKrupp Waupaca, Inc.," said Gary Gigante, president and CEO of ThyssenKrupp Waupaca, Inc. "Tell City, Perry County, and the state of Indiana have been outstanding partners throughout our history. The support provided by the Governor and his entire team will ensure that we continue to grow our operations and remain an integral part of the Indiana economy for many years to come."
The Indiana Economic Development Corporation offered ThyssenKrupp Waupaca, Inc. up to $1.55 million in performance-based tax credits. Perry County will consider additional property tax abatement at the request of the Perry County Development Corporation.
The company will invest $36.5 million in equipment upgrades at the facility. ThyssenKrupp has already begun hiring at the Tell City plant.