Impact Forge Group Expands Its Columbus, Indiana, Manufacturing Center
The company, which is a subsidiary of Dearborn, Michigan-based HHI Forging, LLC, will invest $7.5 million to install state-of-the-art, German-designed forging equipment into its 138,000 square-foot Columbus facility. The first stage of new equipment was installed last year, with the second phase scheduled for installation though 2015.
“The original founding group members were all residents of southern Indiana and were extremely impressed with the pro-business climate that existed in Indiana and especially in the greater Columbus, Indiana area,” said Dennis P. Potter, COO of the Impact Forge Group.
With its new equipment, the company plans to update its forging capabilities, increase overall capacity, lower its energy usage and add a third shift to its operations to expand production of components for new eight- and nine-speed transmissions. Impact Forge Group, which currently employs 490 full-time associates, including 454 in Indiana, has already begun hiring production, maintenance and support personnel.
“Indiana has an incredible manufacturing heritage, but more importantly, Indiana has a manufacturing future that is the envy of the nation,” said Eric Doden, President of the Indiana Economic Development Corporation. “The Hoosier State continues to lower taxes, cut red tape and invest in infrastructure, giving companies like Impact Forge Group the business environment needed for dynamic growth.”
As an incentive, the Indiana Economic Development Corporation offered Impact Forge Group, LLC up to $250,000 in conditional tax credits 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. The city of Columbus approved additional incentives at the request of the Columbus Economic Development Board.
“Impact Forge is one of our longest standing companies that has created hundreds of well-paying jobs," said Columbus Mayor Kristen Brown. "As Impact Forge Group continues to grow, we are sincerely grateful for their investment and the additional employment opportunities they bring to our community.”
Why are Foreign Trade Zones Making a Comeback?
The New Normal in the Automotive Supply Chain
2020 Auto/Aero Site Guide
Infrastructure Investment as an Economic Stimulus Tool
34th Annual Corporate Survey & the 16th Annual Consultants Survey
Nondisclosure Agreements Best Practices When Negotiating Incentives
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row