Auto Supplier's Expansion ContinuesPosted: Updated:
The Indiana Economic Development Corp. has announced additional details of an automotive industry supplier's plans to create 30 jobs in Bartholomew County. The Impact Forge Group LLC says it will install the remainder of its $7.5 million investment in equipment by the end of the year. Our partners at The Republic in Columbus first reported on the expansion last month.
January 6, 2014
COLUMBUS, Ind. - Impact Forge Group, LLC, a manufacturer of critical safety forged components for the automotive industry, announced plans to expand its operations here, creating up to 30 new jobs by 2015.
The company, which is a subsidiary of Dearborn, Michigan-based HHI Forging, LLC, will invest $7.5 million to install state-of-the-art, German-designed forging equipment into its 138,000 square-foot Columbus facility. The first stage of new equipment was installed last year, with the second phase scheduled for installation though 2015. With its new equipment, the company plans to update its forging capabilities, increase overall capacity, lower its energy usage and add a third shift to its operations to expand production of components for new eight- and nine-speed transmissions.
"Indiana has an incredible manufacturing heritage, but more importantly, Indiana has a manufacturing future that is the envy of the nation," said Eric Doden, president of the Indiana Economic Development Corporation. "The Hoosier State continues to lower taxes, cut red tape and invest in infrastructure, giving companies like Impact Forge Group the business environment needed for dynamic growth."
Impact Forge Group, which currently employs 490 full-time associates, including 454 in Indiana, has already begun hiring production, maintenance and support personnel. Interested applicants may apply by sending a resume to Chelsea Burrel at P.O. Box 1847, Columbus, IN 47202 or at firstname.lastname@example.org.
"The original founding group members were all residents of southern Indiana and were extremely impressed with the pro-business climate that existed in Indiana and especially in the greater Columbus, Indiana area," said Dennis P. Potter, chief operating officer of the Impact Forge Group.
Founded in 1986, Impact Forge Group produces forged products, which can be found in suspension, transmission, engine and wheel end product applications for automotive original equipment manufacturers and the heavy truck industry. Forging both carbon and alloy steels of various grades, the company's products can be heated to more than 2200 degrees Fahrenheit, depending on customer requirements. In addition to its Impact-Main and Net Forge facilities in Columbus, the Impact Forge Group operates facilities in Remington, Indiana and Coldwater, Michigan.
The Indiana Economic Development Corporation offered Impact Forge Group, LLC up to $250,000 in conditional tax credits 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 incentives at the request of the Columbus Economic Development Board.
"Impact Forge is one of our longest standing companies that has created hundreds of well-paying jobs," said Columbus Mayor Kristen Brown. "As Impact Forge Group continues to grow, we are sincerely grateful for their investment and the additional employment opportunities they bring to our community."
Indiana added 15,800 private sector jobs in November, which is the largest one-month gain in 15 years. The record-setting month helped expand Indiana’s labor force by more than 75,000 workers over the past year, which ranks seventh in the nation for raw numbers added.
About Impact Forge
The Impact Forge Group, LLC provides forged products primarily to the OEM automotive and heavy truck industries. Our forged products can be found in suspension, transmission, engine and wheel end product applications. We forge both carbon and alloy steels of various grades which can be heated to over 2200’F based on our customer’s design criteria. For more information, visit www.hhiholdings.net.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president 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 Corp.