GREENSBURG, Ind. (Oct. 31, 2012) – Hitachi Powdered Metals (USA), Inc., a powdered metal components supplier, announced plans today to expand its operations here, creating up to 60 new jobs by 2014.
Hitachi Powdered Metals (USA), Inc., a subsidiary of Japan-based Hitachi Powdered Metals, Co. Ltd., plans to invest $38.4 million to construct and equip a second facility on its 30-acre campus in Decatur County. The new 128,000 square-foot plant, which is slated to be operational in August 2013, will house compacting presses, sintering furnaces, lathing and machining center work cells, heat treating equipment and office space.
“Hitachi Powered Metals (USA), Inc.’s decision to increase its footprint in Indiana despite global economic challenges is the latest proof that we have done the right things to attract business investment,” said Governor Mitch Daniels. “Preserving the low-tax, pro-growth Hoosier business climate is key to keeping jobs like this coming.”
The company, which currently has 156 full-time Indiana employees in Greensburg, is currently hiring additional manufacturing, engineering, maintenance technician and production associates.
“Hitachi Powdered Metals (USA), Inc. continues to be a leader in powdered metal technology as we expand our reach into the North American automotive market,” said Greg Owens, vice president of Hitachi Powdered Metals (USA), Inc. “During the site selection process, Greensburg city leaders were very supportive throughout, as were our local and state economic development corporations. All were instrumental in our decision to expand in Greensburg.”
Established in 1987, Hitachi Powdered Metals (USA), Inc. manufactures precision-made valve guides, gears, sprockets and pullies for automotive companies including General Motors, Ford, Honda, Toyota and Nissan. Its Greensburg location is the company’s only powdered metal operation in the United States.
The Indiana Economic Development Corporation offered Hitachi Powdered Metals (USA), Inc. up to $275,000 in conditional tax credits and up to $150,000 in training grants 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 Greensburg approved additional property tax abatement at the request of the Economic Development Corporation of Greensburg-Decatur County.
“Our community leaders and economic development corporation worked together with the state of Indiana and Hitachi Powdered Metals (USA), Inc. in a manner that assists retention, expansion and job creation of local companies whenever possible,” said Greensburg Mayor Gary Herbert. “We realize that what’s good for local businesses, like Hitachi Powdered Metals (USA), is good for our community.”
Hitachi Powdered Metals (USA), Inc. joins 11 other Japanese companies that have committed to locating or growing operations in the Hoosier State so far this year, creating more than 1,390 projected new jobs and more than $4.3 million in investment. Most recently, Daniels joined executives from Tsuda Industries to announce the Japanese automotive parts supplier’s plans to build its first North American facility in Mount Comfort, which is expected to create up to 116 new jobs by 2016.
About Hitachi Powdered Metals (USA), Inc.
Hitachi Powdered Metals (USA), Inc., is a subsidiary of Hitachi Powdered Metals, Co. Ltd, Japan. Since 1987, Hitachi Powdered Metals (USA), Inc. has been a leading global supplier of precision engineered powdered metal components to the automotive industry. The company is a tier one supplier to GM, Ford, Honda, Toyota, Nissan and Subaru, and a tier two supplier to Denso, Yamada North America and others.
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. Dan Hasler serves as the chief executive officer of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
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Michael Hauk (Hitachi) – 812.663.1531 or email@example.com
Katelyn Hancock (IEDC) – 317.234.2294 or firstname.lastname@example.org