Anderson Mayor Tom Broderick says the city beat out other communities for a major investment from a Japanese company. Broderick says its location, work force and educational assets helped seal the deal. NTK Precision Axle Corp. plans to build a more than $100 million manufacturing facility in Anderson. The company, which also has manufacturing operations in Frankfort, says the new 300,000 square-foot facility will create nearly 200 jobs by 2021. NTK is a joint venture that includes Japan-based NTN Corp. NTN Driveshaft Inc. Chief Executive Officer Jim Riggs says the facility shows NTN’s commitment to localization of its component parts.
The company says it currently gets some of its shafts from Japan. In 2015, NTN Driveshaft broke ground on its $130 million manufacturing plant in Anderson expected to ultimately create more than 500 jobs.
Mayor Broderick says Anderson has a ready and able work force, thanks in part to educational opportunities in the city. In particular, he cites the Purdue Polytechnic Institute, which he says allows students to earn a degree at a lower cost than at the West Lafayette campus and also includes a maker space and manufacturing space.
The Indiana Economic Development Corp. says NTK plans to break ground on the facility this spring with production expected to begin in October 2018. NTK, a joint venture with Japan-based NTN Corp., manufactures wheel hubs and axles for two-wheel and four-wheel drive vehicles.
"Here in Indiana, we are home to the highest concentration of manufacturing jobs in the nation because our state has worked hard to build a pro-growth business climate," said Indiana Secretary of Commerce Jim Schellinger. "Global companies like NTK are choosing Indiana because we offer a low-cost, low-tax, limited regulation environment with a workforce that is second-to-none. Every day, Hoosiers across the state are building products that power our world, and I’m confident that our skilled workforce will help drive NTK’s growth and success for years to come."
NTN currently employs nearly 2,000 in Indiana and more than 4,500 throughout the country. NTK expects to begin hiring for production, engineering and maintenance positions at the new Anderson plant in early 2018 and salaried positions later this year.
The IEDC has offered NTK up to $1 million in condition tax credits, which the company will not be eligible to claim until Hoosiers are hired. The city of Anderson is also considering additional tax incentives.
In addition to the new Anderson facility, NTN Corp. also has a facility in Columbus for its NTN Driveshaft Inc. subsidiary and the NTK facility in Frankfort. Construction is currently ongoing for NTN Driveshaft Anderson facility as well.