An automotive parts and systems supplier, Magna Powertrain of America, Inc., will invest $15.5 million to expand operations and add new equipment at its 200,000 square foot manufacturing campus at 4701 S. Cowan Road in Muncie, Indiana.
The investment, which is expected to create 50 jobs in Delaware County by December 2015, includes the purchase of new laser welders and other manufacturing equipment to support increased business, according to the Muncie-Delaware County Economic Development Alliance.
"The additional expansion of this Muncie facility demonstrates the trust our customers have in our capabilities as a powertrain systems supplier," said Jake Hirsch, President of Magna Powertrain. "We are very proud of the commitment our employees have towards world-class manufacturing and quality."
Magna Powertrain, a division of automotive parts supplier Magna International Inc., 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.
"Magna's continued growth is encouraging news for our community. It demonstrates that their local facility, having gone through 4 expansions, is a high-performer and thus a choice location for new investment. Magna is the type of company that every economic development organization seeks to attract. We are fortunate to have them in Muncie-Delaware County," said Jay Julian, Chief Economic Development Officer, Muncie-Delaware County Chamber of Commerce and Economic Development Alliance.
Delaware County Council approved five-year tax abatement on the equipment investment at the request of the Muncie-Delaware County Economic Development Alliance.
"Magna's decision to expand in Muncie-Delaware County speaks volumes to the quality of the labor force and the positive business environment offered in our community and the State of Indiana," said Terry Murphy, Vice President, Economic Development for the EDA.