IN: NTN Driveshaft to Invest $90M, Expand in Columbus, Hire 100
18 Oct, 2018
NTN Driveshaft Inc., a global automotive supplier, announced plans to expand its manufacturing operations in Columbus, creating up to 100 new jobs by 2023.
"NTN Driveshaft's decision to expand in southeast Indiana continues a long-standing tradition of Japanese manufacturers choosing Indiana for growth," Governor Eric J. Holcomb said. "We're proud of our strong partnership with Japan, which now supports more than 290 business facilities in Indiana, and look forward to more milestones ahead thanks to companies like NTN Driveshaft."
The company, which is a subsidiary of Japan-based NTN Corporation, will invest $90 million to increase its forging operations in Bartholomew County, purchasing and installing two hot forge presses and constant velocity joint assembly equipment at its 1.35-million-square-foot facility. As part of its expansion, the company will renovate 60,000 square feet of existing space and expand its facility by an additional 20,000 square feet, increasing its Columbus footprint to more than 1.5 million square feet once complete.
NTN Driveshaft plans to begin increasing its production by fall 2019 and anticipates the expansion being fully operational within three years. To support the new growth, the company will add forge press operators, maintenance workers and setup associates and plans to begin hiring mid-2019. Interested applicants may apply online.
"We are pleased to announce today that we have decided to invest nearly $100 million over the next three years to increase our plant capacity," said Jim Riggs, president and CEO of NTN Driveshaft. "This decision shows the level of NTN’s commitment to our Columbus operation. NTN is very satisfied with our relationship with the city of Columbus, the surrounding community and the state of Indiana. The mayor and his team worked very hard to make sure that this investment was made right here in Columbus. We thank them for their effort and willingness to work with us."
NTN Corporation, which was established in 1918, is a global manufacturer of mechanical parts and equipment, such as bearings, drive shafts and production equipment. The company, which has 219 locations in 33 countries, began NTN Driveshaft operations in Columbus in 1991 with initial plans to employ just 250 associates. After multiple expansions in Columbus and through related operations in Frankfort and Anderson, today NTN Driveshaft and its sister company NTK Precision Axle employ more than 2,000 associates in Indiana.
“Columbus, Indiana, is proud to be home to the largest, most successful facility within NTN’s significant global footprint,” said Mayor Jim Lienhoop. “Our local administration, current and past City Councils, and our economic development partners are pleased to support the continued growth of NTN Driveshaft in Columbus, Indiana, and we gladly welcome today’s announced $90 million expansion.”
The Indiana Economic Development Corporation offered NTN Driveshaft up to $750,000 in conditional tax credits based on the company's plans to create 100 new jobs by 2023. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Columbus will consider additional incentives at the request of Greater Columbus Indiana Economic Development based on the company’s plans to add 74 new jobs by 2020.
Indiana is home to more than 290 Japanese business facilities, including original equipment manufacturers like Subaru of Indiana Automotive, Toyota Motor Manufacturing of Indiana and Honda Motor North America, as well as automotive suppliers like NTN Driveshaft and NTK Precision Axle. Together, these companies support 65,000 jobs for Hoosiers.
About NTN Corporation
Founded in 1918 and headquartered in Osaka, Japan, NTN is a global manufacturer of mechanical parts and equipment, such as bearing, driveshafts and hub bearing. NTN established its first company in the U.S. in 1963, and now has 9 bases of manufacturing and sales, and research and development. In Indiana, NTN established NTN Driveshaft in Columbus in 1990, NTK Precision Axle in Frankfort in 2004, and the newly established NTN Driveshaft Anderson Inc.(NDA) in 2015. NTN has approximately 4,500 employees in the U.S., which includes approximately 2,000 in Indiana.
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 15-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.