Allison Transmission Holdings Inc. (NYSE: ALSN) today detailed expansion plans involving more than 300 new jobs through 2020. The company says it will invest more than $400 million over the next few years in projects including a new Vehicle Environmental Test facility and an Innovation Center in Indianapolis. As part of the announcement, Allison today broke ground on the Innovation Center, which is expected to open in 2021.
The Innovation Center will feature virtual and physical system simulation and development and validation capabilities. The facility will be next to Allison's west side Indianapolis headquarters. The Vehicle Environmental Test facility will feature environmental chambers that can simulate temperature extremes and various altitudes and road conditions to test for regulator compliance and performance. Allison expects to open the VET next year.
The company, which currently has about 2,900 employees worldwide, including 2,600 in Indiana, plans to add more than 300 employees as part of the expansion. Allison says it has immediate openings in areas including engineering, purchasing and marketing, sales and service.
Chief Executive Officer David Graziosi says the facilities will help Allison "bring new technology and products to market more efficiently and faster that add value to our customers, partners and suppliers."
The Indiana Economic Development Corp. offered Allison more than $7 million in conditional tax credits and training grants based on the job creation plans. The city of Indianapolis and town of Speedway are also supporting the project.
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