The Muncie-Delaware County Economic Development Alliance announced that Magna Powertrain of America, Inc., an automotive components manufacturer, plans to expand its operations in Muncie, Indiana, creating up to 76 new jobs by 2016.
The Troy, Mich.-headquartered company will invest $11.5 million to add new equipment to its 200,000 square-foot facility located at 4701 S. Cowan Road in Muncie. The expansion, which will be complete by early 2014, includes equipment for a new automotive component manufacturing and assembly line to accommodate new business from General Motors.
Magna Powertrain, which has approximately 290 full-time employees in Indiana, plans to begin hiring additional operators, lead operators, manufacturing engineers, quality engineers and controls engineers in the third quarter of 2013. Interested applicants can apply online at www.magna.com/careers.
On behalf of Magna Powertrain’s Metal-Forming Solutions group, we are pleased to enter the next phase of our expansion in Muncie,” said Tom Rucker, Vice President, Metal-Forming Solutions, Magna Powertrain. “Through our continued investment, combined with the support from our business and municipal partners, we will continue to increase our competitive advantage and execute our plan for sustained growth.”
Magna Powertrain is an operating group of automotive parts supplier Magna International Inc. and 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 growing presence is extraordinary news for our community,” said Jim Williams, Chairman of Board for Delaware Advancement Corporation and the Muncie-Delaware County Economic Development Alliance. “Magna has become a real pillar in the community through their continued investment and job growth,” added Williams.
The Delaware County Council approved additional tax abatement on the equipment investment at its regularly scheduled meeting this morning at the request of the Muncie-Delaware County Economic Development Alliance. The Indiana Economic Development Corporation offered Magna Powertrain of America, Inc. up to $400,000 in conditional tax credits and up to $75,000 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.
“Magna Powertrain has lots of places to put new work, and their continued investment in our community is a testimony to the quality of Muncie and Delaware County’s workforce, business environment, and overall quality of place to do business,” said Larry Bledsoe, president of the Delaware County Commissioners. “We are excited about this investment and pledge our present and future assistance to help the Muncie facilities grow and prosper.”
Today’s announcement marks Magna Powertrain’s third expansion in Muncie in recent years. In 2010, the company announced plans to invest $14 million to relocate its service-part operations to a 100,000 square-foot facility located at 1400 West Fuson Road, creating up to 50 new jobs. Additionally, last year Magna Powertrain invested $5.3 million to add 50,000 square feet and new equipment to its Cowan Road facility, creating 16 new jobs.
About Magna Powertrain
Magna Powertrain (www.magnapowertrain.com), an operating group of Magna International, is a global supplier for the automotive industry with full capabilities in powertrain design, development, testing and manufacturing. Complete system integration sets us apart from our competitors, and our innovations make important contributions to the overall performance of vehicles around the world: they improve fuel economy, make vehicles safer and lighter, ensure a pleasurable driving experience, and provide added value to our customers.
About the Muncie-Delaware County Economic Development Alliance
The Muncie-Delaware County Economic Development Alliance (EDA) represents a consortium of economic development entities dedicated to the growth and prosperity of Muncie-Delaware County, Indiana. The EDA allocates and leverages economic development resources to sustain and enhance the economic growth, vitality and global competitiveness of Muncie-Delaware County as a superior business location. The EDA’s administrative entities are Delaware Advancement Corporation and the Muncie-Delaware County Chamber of Commerce. More information about the EDA can be found at www.muncie.com.
There are no comments
Please login to post comments