Terre Haute Economic News
Governor Daniels Announces Expansions, New Jobs inTerre Haute
- Created: Tuesday, 04 October 2005 16:39
“Indiana is a good place to do business and ThyssenKrupp Presta and Aisin Brake & Chassis recognize Hoosiers have much to offer. These companies already have a solid presence in Terre Haute and are upping their investments. Expansions like these that create good-paying jobs for Hoosiers typify the strides we are making in growth throughout the state,” said Daniels.
ThyssenKrupp Presta President Peter Eberle said the company will invest $5.5 million and add a second production line this fall to accommodate the assembly of additional steering columns for Ford Motor Company. The expansion will result in approximately 100 new jobs for area residents.
“Over five years, the volume of these columns will be 2.2 million units with projected sales estimated to be $168 million,” said Eberle.
Aisin Brake & Chassis, a manufacturer of brake parts for automakers such asToyota, Honda, GM and Mitsubishi, will invest $35 million and add approximately 125 new jobs to their current workforce of 400. The company’s expansion plans call for an addition of 190,000 sq. ft. of manufacturing and warehousing space with a completion date of May 1, 2006.
The governor visited Aisin Seiki headquarters during his recent economic development mission toAsia in August. Aisin Brake & Chassis is a subsidiary of Aisin Seiki.
“I am very excited and pleased to announce Aisin Brake & Chassis plan to expand our manufacturing business in Terre Haute/Vigo County,” said company director Archie Kappel. “I would like to express my sincerest gratitude to all who have been instrumental in making our business successful.”
The Indiana Economic Development Corporation (IEDC), in partnership with Vigo County officials and the Terre Haute Economic Development Corporation, worked together to provide state and local incentives that made the expansions possible.
“It is clear that optimism is growing among Vigo County manufacturers and that is encouraging news for an important industry in our state,” said Terre Haute Mayor, Kevin Burke.
“We are very pleased that both ThyssenKrupp Presta and Aisin Brake & Chassis continue to express confidence in our local business climate. We will do our part to ensure their ongoing satisfaction,” said Paul Mason, president of the Vigo County Commissioners.
As a result of legislation passed by the Indiana General Assembly in Feb. 2005, the Indiana Economic Development Corporation replaced the Department of Commerce as the premier entity charged with state economic development. The IEDC has a 12-member board chaired by Gov. Mitch Daniels. Patricia R. Miller, chief executive officer and secretary of commerce of the IEDC, serves in the Governor’s cabinet.
Weston P. Sedgwick
Manager of Media Relations and Public Affairs
Indiana Economic Development Corporation
One North Capitol