Image via Wikipedia
North American Lighting, Inc., a manufacturer of automotive lighting and components, broke ground today on a new injection mold manufacturing facility in Elberfeld, creating up to 42 new jobs by 2014.
The company, an independent supplier of headlights, fog lamps, taillights and brake lights, will invest nearly $16.4 million to construct a 34,000 square-foot facility where it will make injection molds for use at its manufacturing facilities across the Midwest and Southern United States. The facility will be located in the North Warrick Industrial Park, a state-certified "Shovel Ready" site since 2008.
"The 'Shovel Ready' program exists so that Indiana can immediately accommodate companies like North American Lighting that are looking to grow quickly," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Once again, Indiana's business climate is creating a competitive advantage and bringing new jobs to the southwest corner of our state."
North American Lighting's Warrick County site will be its first in Indiana. With the recent resurgence of the auto market, the company is looking to vertically integrate by adding injection mold tool fabrication capacity. The company plans to begin hiring engineers, machinists and tool makers later this year as operations commence at the new facility. Construction on the facility is scheduled to begin in July, with an anticipated operational date of March 2012.
"Because of its long history of being home to many skilled toolmakers, we believe southwest Indiana is the best place for NAL to add tool manufacturing capability," said Greg Conrad, president and chief operating officer of North American Lighting, Inc. "We are very thankful for the hospitality that has been extended to our organization and the support provided by Governor Daniels' administration, the state of Indiana, Warrick County and the Economic Development Coalition of Southwest Indiana. Their demonstrated commitment to creating new employment opportunities helped to make this new investment possible."
Founded in 1983 as a joint-venture, North American Lighting is now a wholly-owned subsidiary of Japan-based Koito Manufacturing Co. The company is headquartered in Paris, Ill. and has additional manufacturing facilities in Illinois and Alabama and a sales and engineering office in Michigan. North American Lighting currently produces roughly four million head lamps and four million signal lamps each year.
The Indiana Economic Development Corporation offered North American Lighting up to $600,000 in performance-based tax credits and up to $35,000 in training grants based on the company's job creation plans. Warrick County has approved incentives and is considering additional property tax phase-in.
"We are very pleased that North American Lighting has selected Warrick County and the Indiana certified 'Shovel Ready' North Warrick Industrial Park as the site for its new injection mold tool fabrication facility. This business with its highly technical workforce is a great first resident of our new industrial park," said Don Williams, president of the Warrick County Commissioners.
The North American Lighting announcement adds to the recent good news about Indiana's economy. According to a report released this month by the U.S. Bureau of Economic Analysis, Indiana's Gross Domestic Product grew at a rate of 4.6 percent in 2010, the third fastest growth in the nation and more than 50 percent faster than the national average. Last week, Indiana's employment outlook for the third quarter of 2011 was rated third best in the nation by ManpowerGroup.
About North American Lighting Inc.
North American Lighting, Inc., is the largest non-affiliated lighting supplier in North America. NAL has been manufacturing lighting products for the majority of vehicle manufacturers in North America since 1983. The company began as a joint venture and is now a wholly-owned subsidiary of Koito Manufacturing Co., Ltd., of Japan.
About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.
There are no comments
Please login to post comments