Continental Structural Plastics (CSP) Inc., a tier 1 automotive supplier specializing in vehicle lightweighting technologies, announced plans to expand its operations in Huntington, creating up to 80 new jobs by 2020.
“Indiana is a global leader in advanced manufacturing,” said Governor Mike Pence. “CSP’s growth speaks volumes about this company and its talented Hoosier employees. The fact that Indiana is the home of the nation’s largest concentration of manufacturing jobs is a source of pride for this state. As CSP grows its operations here in Indiana, Hoosiers can rest assured that this administration will continue to pursue the kinds of policies that make our state a destination for investment and growth.”
CSP will invest $33.5 million to expand operations at 1890 Riverfork Drive in Huntington, constructing a new 130,000 square-foot facility on six acres adjacent to its current 210,000-square-foot facility. Currently manufacturing products for several global automakers, with its growth the company will add new production lines of structural and Class A components. Construction is expected to begin in June 2016 and CSP anticipates the new lines will be operational by late 2017.
The Michigan-based company currently employs 323 people in Huntington as well as 30 associates in Grabill, Indiana. CSP plans to begin hiring for additional production, engineering and administrative associates later this year, with open positions listed on the company’s website. New positions are expected to pay salaries above the Huntington County average.
“The Huntington area continues to be a very business-friendly place, making the decision to further invest here an easy one for us,” said Jerry Reid, operations manager of CSP Huntington. “We have access to a talented and hard-working employment base, and continue to receive significant support from the local, county and state economic development offices that enables us to grow our business and contribute to the Huntington-area economy.”
Founded in 1969, CSP creates lightweight composite materials that are then molded into body panels and structural components for automotive, heavy truck, HVAC and construction markets. The tier 1 supplier employs nearly 3,300 associates across 14 manufacturing facilities in the United States, Mexico, France and China, providing products and services to several global light vehicle and heavy truck manufacturers.
The Indiana Economic Development Corporation offered Continental Structural Plastics Inc. up to $600,000 in conditional tax credits and up to $50,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. Huntington County and the city of Huntington approved additional incentives at the request of Huntington County Economic Development.
"Our community is honored to be selected for this project,” said Huntington Mayor Brook Fetters. “I'm proud of the team at CSP and the project would not have been possible without the hard work of the Huntington County Economic Development Corporation, the county commissioners, the city council and the state. This was truly a team effort."
Auto manufacturers and suppliers find a strong home for growth in Indiana, where Hoosiers have helped build the nation’s second largest automotive sector and assemble more than 1 million cars each year. With one in five Hoosiers working in manufacturing, more than one quarter of Indiana’s total economic output comes from the industry.
About Continental Structural Plastics
For more than 40 years, Continental Structural Plastics has provided leading-edge technologies in lightweight materials and composite solutions for the automotive, heavy truck, HVAC and construction industries. Headquartered in Auburn Hills, Michigan, CSP provides full-service engineering support, and holds more than 50 patents covering materials development and manufacturing processes in composite materials formulation, design and manufacturing technologies. For more information, visit www.cspplastics.com.
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, focusing on helping companies grow in and locate to the state. Governed by a 12-member board chaired by Governor Mike Pence, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.