Posted on 05/08/2017 2:33:27 PM PDT by 2ndDivisionVet
Jackson County’s largest industrial employer is planning to invest more than $31 million in its Seymour facilities and create around 250 new jobs over the next two years.
Aisin USA Mfg. is requesting tax abatements from Seymour City Council on projects at both of its Seymour plants in the Eastside Industrial Park in order to produce automotive components for new and existing vehicle models.
City council meets at 7 p.m. tonight at city hall. The meeting is open to the public.
According to statement of benefits forms filed with the city last week, the improvement projects are scheduled to begin June 1 and be completed in 2019.
(PHOTO-GALLERY-AT-LINK)
At Plant 1, located at 1700 E. Fourth St., the company is anticipating spending an estimated $1.3 million in renovations and $23.9 million in new manufacturing equipment.
Abatement allows the company to phase in paying taxes on the expansion and new equipment over the next 10 years.
The expenditures will allow Aisin to accommodate for changes in customer designs and new models including Toyota’s Sienna, Camry, Highlander, Corolla and Avalon lines, the Honda Odyssey and Chevrolet and Lexus models.
Aisin manufactures and supplies automotive components and systems including door frame components, latching systems and seating and trim molding.
Currently, Aisin has a workforce of 1,293 employees at Plant 1 and expects that to grow by 238 as a result of the investments. The added jobs will increase the local income tax base by an estimated $12.6 million in salaries.
An additional $6.6 million is projected to be invested at Plant 2 at 500 Burkart Boulevard and add nine new jobs to that facility’s current workforce of 479.
Last August, Aisin announced a $100 million investment to expand its manufacturing facilities and add 100 new jobs over a four-year period.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.