A joint venture between two Japan-based firms, Fukai Mfg. Co., and Toyoda Iron Works Co., will result in Fukai Toyotetsu Indiana Corporation locating its $73.5 million, 151,000 square foot, manufacturing plant on 40 acres in Jamestown, Indiana, creating up to 195 jobs by 2017.
The plant which will produce automotive pillars, body structures and frames for customers such as Subaru is expected to be operational in spring of 2016. FTIC plans to hire manufacturing, maintenance, information technology, distribution, engineering and quality control associates.
"Fukai has been considering investing in the United States since 2001 to help support the needs of our long-time customer Subaru," said Satoru Fukai, president of FTIC. "Toyotetsu already has successful investments in the Midwest of the U.S., so it makes sense for Fukai to enter into a joint venture with Toyotetsu to combine Fukai’s customer relationships and Toyotetsu's knowledge of the U.S. market. We are eager to begin this exciting new venture in Jamestown."
As an incentive, Indiana Economic Development Corporation offered Fukai Toyotetsu Indiana Corporation up to $1.150 million in conditional tax credits and up to $200,000 in training grants based on the company’s job creation plans. In addition the IEDC will provide up to $1,286,000 from the state’s Industrial Development Grant Fund to Boone County. The town of Jamestown and Boone County offered also additional incentives at the request of the Boone County Economic Development Corporation.
"Indiana continues to benefit from our strong relationships with the Japanese business community," said Lt. Governor Sue Ellspermann. “We celebrate our friendship with Japan, with the success of businesses like Fukai in our sister state Tochigi Prefecture bringing jobs and investment back home to Indiana."