An automotive supplier is planning to expand in Greensburg and create more than 250 jobs by the end of 2015. Valeo says it will invest nearly $38 million in the project. The Greensburg City Council has approved a six-year tax abatement on the growth plans. Valeo's Greensburg facility has been in operation since 1989 and makes products including engine and oil cooling modules. The company currently employs about 670 in Decatur County.
July 8, 2014
Greensburg, Ind. — Valeo, a leading global automotive supplier, has announced plans to expand operations at its Greensburg location with a $27.8 million investment in new machinery that is expected to create approximately 257 new jobs by the end of 2015.
At the July 2014 Greensburg City Council regular meeting, A Valeo representative provided figures regarding the company's $27.8 million investment and 257 new jobs. The Greensburg City Council then granted four new machinery tax abatements to Valeo, all for six years that decrease incrementally each year until 100% of taxes are paid in the 7th year. Also during the meeting, the company expressed gratitude for the Greensburg city leaders' support, as well as support received from the state and local economic development corporations during this expansion process. Valeo is presently working with the state's IEDC on provision of state incentives for this project.
Valeo's Greensburg operation has been part of the local community since 1989 and has grown to more than 400,000 square feet, currently employing approximately 673 people. It manufactures engine cooling loop exchangers and modules; charge air, exhaust gas, and oil coolers; and front end modules.
Greensburg City Mayor Gary Herbert said “Our community leaders, economic development corporation, and state of Indiana have worked together with Valeo in a manner that assists retention, expansion, and job creation of local companies whenever possible. We realize that what's good for local businesses, like Valeo, is good for our community.”
More information about the Valeo Group and its activities can be found on the Internet at www.valeo.com.
Source: Economic Development Corp. Greensburg Decatur County