Auto Supplier Announces Expansion

June 12, 2012

News Release

COLUMBUS, Ind. (June 12, 2012) – NTN Driveshaft, Inc., a division of Japan-based NTN Corporation, announced plans today to expand its operations here, creating up to 50 new jobs by 2013.

NTN Driveshaft, which manufactures constant velocity joints for the automotive industry, will invest $18 million to purchase additional production equipment for its 1 million square-foot facility located at 8251 S. International Drive in Columbus. Installation of the new equipment will begin in the coming months.

“As one of the largest area employers, NTN Driveshaft continues to provide new jobs, investment and opportunity in southeast Indiana,” said Governor Mitch Daniels. “As Lt. Governor Skillman leads another successful jobs mission to China, NTN Driveshaft shows how the Hoosier State’s strong relationship with Asian companies has helped make Indiana the top state in the nation for job growth.”

The company, which currently has 1,544 full-time employees in Columbus, has already begun hiring additional engineering, production and maintenance associates.

“NTN Driveshaft is happy to continue our growth at our Columbus, Ind. location,” said Barry Parkhurst, vice president of NTN Driveshaft. “Our customer demand continues to be strong and this additional investment in capital and training funds will help us meet these strong demands. Indiana’s central location and well-rounded work force has allowed NTN Driveshaft to show continuous growth over the past 21 years.”

Founded in 1918, NTN Driveshaft’s parent company was established in Japan as a manufacturer of bearings. The company, which began operations in Columbus in 1990, manufactures parts for front-wheel, four-wheel and all-wheel drive cars and trucks.

The Indiana Economic Development Corporation offered NTN Driveshaft, Inc. up to $235,000 in conditional tax credits and up to $50,000 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 Columbus approved additional property tax abatement.

“NTN Driveshaft has been an asset to Columbus since 1990 and we value the investment the company continues to make in jobs and equipment,” said Columbus Mayor Kristen Brown. “Our goal in Columbus is to partner with companies such as NTN Driveshaft by providing a business-friendly environment which encourages and supports investment like this.”

During the last seven years, Daniels and Skillman have separately led nine trade missions to Asia to reaffirm and establish business relationships and economic development opportunities. Since 2005, more than 65 Asian companies have committed to locating or growing in Indiana, accounting for more than 8,500 new jobs and more than $3 billion in investment.

About NTN Driveshaft
Located in Woodside South Industrial Park, Columbus, Ind., NTN is currently dedicated to the production of constant velocity joints, for which demand is increasing. NTN has two main goals; first to completely satisfy customer needs through reliable quality, efficient production, and custom-tailored manufacturing and second, to establish a people-oriented environment of which employees and their families will be proud and which people in the community will favorably accept. NTN expects to contribute to the area's development and its customers by achieving these goals.

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. 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.

Source: Indiana Economic Development Corporation