Jasper Engines & Transmissions Invests $6.9 Million To Expand Jasper, Indiana, Manufacturing Campus
The homegrown-Hoosier company, which remanufactures drivetrain components, plans to invest $6.9 million to purchase, renovate and equip a 220,000 square-foot facility located half a mile southwest of its 367,000 square-foot Jasper headquarters. The additional facility will house Jasper Engines & Transmissions’ transmission division and is expected to be operational this fall. The company has already begun hiring additional manufacturing, maintenance, information technology, distribution, engineering and quality control positions in Jasper.
“When looking at our options for expansion, no other place measured up to the business climate in Indiana,” said Doug Bawel, Chairman/CEO of Jasper Engines & Transmissions. “Jasper Engines & Transmissions is growing at a high rate and this expansion is thanks to our hard-working associates and our company’s dedication to excellence when producing our products. We are excited to grow production here in Jasper, so for all your engine, differential or transmission needs, look no farther than Jasper Engines & Transmissions.”
“Jasper Engines & Transmissions is a great Indiana economic success story. The company that has prospered and provided hundreds of jobs for Hoosiers for over 70 years is expanding again,” said Lt. Gov. Sue Ellspermann. “We continue to see how our business-friendly tax and regulatory policies plus our dedicated workforce make Indiana a place where companies want to expand and locate. Our record-breaking job growth shows that Indiana truly is a state that works.”
Indiana Economic Development Corporation said the latest news marks the third expansion by Jasper Engines & Transmissions in recent years, with the company exceeding its jobs goals on all previous projects. In 2012, the company announced plans to expand its headquarters in Jasper, investing $550,000 and adding 40 new jobs. This followed its 2010 announcement to invest more than $270,000 to relocate two of its out-of-state operations to its Crawford and Dubois county facilities, creating 65 new jobs.
As an incentive, The Indiana Economic Development Corporation offered Jasper Engine Exchange, Inc. up to $1,150,000 in conditional tax credits and up to $200,000 in training grants 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. In addition, the city of Jasper will consider additional property tax abatement.
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