Indiana Wheel Corporation (IWC), a startup manufacturing company specializing in the production and distribution of steel wheels, announced plans to establish operations in Marshall County, creating up to 117 new jobs over the next few years.
"Indiana's fiscally-predictable, pro-growth business climate and talented workforce continue to attract companies from around the world, with foreign direct investment committed to Indiana up more than 300 percent since 2016," Governor Eric J. Holcomb said. "We’re pleased to welcome IWC to Indiana and look forward to the company’s growth and future contributions to the Marshall County economy and community as a whole.”
The company, which is a joint venture led by China-based Jingu Company Limited (Jingu), will invest nearly $23 million to purchase, renovate and equip a 300,000-square-foot production facility at 2935 Vanvactor Drive in Plymouth. The new facility, which will undergo immediate on-site infrastructure improvements, will feature more than $14.5 million of state-of-the-art, specially-designed equipment to support IWC’s manufacturing operations for the trailer and recreational vehicle (RV) industries. Upgrades will begin this summer with production expected to start later this year.
To support its growth in north central Indiana, IWC plans to add 60 full-time employees toward its goal of 117 by the end of 2019. The company will begin by hiring for executive-level positions, skilled machinists, and operations and administrative associates.
”With a low-cost, business-friendly environment and highly-skilled workforce, Indiana is the perfect place to launch and grow our manufacturing of steel wheels for the trailer and RV industries," said David Saylor, president of IWC. "As we scale IWC's operations in north central Indiana, we plan to build our customer base and exceed expectations in both quality and service. We appreciate the strong relationship established with the city, the state, and with our partners, and we look forward to growing together right here in Plymouth.”
With its investment in IWC, Jingu, which was established in 1986, will add a major U.S. location to complement its global steel wheel manufacturing operations. Jingu, a publicly-traded, tier-one supplier for leading automotive companies such as General Motors, Volkswagen and Ford Motor Company, is the largest steel wheel manufacturer in China. The company is headquartered in Fuyang City, Zhejiang Province, which has shared a sister-state relationship with Indiana for more than 30 years, promoting and encouraging economic, cultural and educational ties between the two states.
“Marshall County and the city of Plymouth have made great strides to prepare ourselves for new business expansions, and we believe IWC will benefit from our preparation," said Plymouth Mayor Mark Senter. "We are grateful to our economic development partners who have significantly weighed in to make the project feasible. We’re thankful for the high-quality jobs and automation that this expansion will bring."
The Indiana Economic Development Corporation (IEDC) offered IWC up to $1.2 million in conditional tax credits 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. The city of Plymouth will consider additional incentives at the June 10 meeting of the Plymouth Common Council at the request of the Marshall County Economic Development Corporation.
IWC joins a network of more than 950 foreign-owned business establishments operating in Indiana, including more than 21 China-based businesses, including SF Motors, BWI North America, Westfield Outdoors and Nanshan America Advanced Aluminum Tech.