$8.5 Million Tax Abatement Means 12 New Jobs
This past August Aisin Chemical Indiana broke ground for a $6 million expansion to their manufacturing plant south of Crothersville. At the time company officials said that the additional 30,000 square foot building expansion would fill more quickly than anticipated to create even more jobs locally.
At Monday night’s Crothersville Town Council meeting ACIN executives made it official seeking and being approved for an additional $8.1 million tax abatement for new manufacturing equipment and a $400,000 abatement for research and development equipment.
The company will be installing a new production line to reduce materials imported from Japan, said Tim Carter, local plant General Manager. He said the equipment will include a papermill and paper saturation line for the production of friction material used in the automotive industry.
ACIN currently makes friction material components for automatic transmissions, liquid sound dampening material and anti-corrosion paint. The company currently employs 50 workers. The tax abatements this year will produce a total of 17 new jobs next year; five announced during the August groundbreaking and an additional dozen expected for the new paper line.
The customers for the new ACIN product include Toyota, AW North Carolina, Subaru of Indiana Automotive, Denso, Hino Manufacturing, Nissan among others.
“Earlier this year when we celebrated a groundbreaking ceremony for ACIN’s building expansion, we were told that additional investment for equipment and machinery would follow, and that is what tonight’s announcement is all about,” Jim Plump, executive director of Jakcson County Industrial Development Corporation told the town council.
“ACIN continues to grow their business and Crothersville, along with Jackson County and South Central Indiana are benefiting from that growth with their new investment and job creation,” Plump said. “We are extremely pleased that Aisin management continues to have confidence in our area as a great place to invest and do business.”
The company expects to begin installation of the new equipment the first of next month with completion scheduled for April 1, 2014. The R&D equipment will begin installation on April 1, 2014 and be completed by the end of the month.
Aisin Chemical began in Jan. 2006 inside neighboring Aisin Drivetrain and completed its current 70,000 square foot facility in December 2010.
The Crothersville manufacturing plant is the only ACIN facility in the United States.