ANDERSON, Ind. -- A Japanese manufacturing company plans to bring nearly 200 new jobs to the city of Anderson by 2021.
NTK Precision Axle Corporation and Anderson Mayor Thomas Broderick Jr. made the announcement on Friday.
Over the next five years, the company plans to expand and produce a new manufacturing facility, company officials said. NTK already operates a facility in Frankfort, IN.
The company plans to hire 140 new employees by 2020 and another 58 by 2021.
The new 300,000-square-foot facility, which will sit on South Layton Road north of 73rd Street, will open in October 2018 with plans to break ground this spring.
Anderson’s location will help the company produce 130,000 products per month in 2018, according to NTK officials.
“Our parts make their way to more than 15 different automakers, which translates to one-fourth of the cars and light trucks on the open road riding on our products,” said NTK President Tadao Okamura. “We are excited for Anderson to become part of our company, and we look forward to a long and prosperous relationship with both the city and the state.”
Mayor Broderick said the new plant is part of Anderson's recovery.
"Anderson has been working to rebuild itself," said Mayor Broderick, "We at one point had GM employees. But when a change of economic circumstances changed that we didn't just say 'too bad for us,' we looked at different ways to rebuild."
The city of Anderson is offering the company a $1.6 million incentive in the form of incremental tax financing, but that tax break still has to be approved by the Anderson City Council.
Indiana has the largest amount of Japanese investment per capita, according to NTN Corporation. More than 250 Japenese companies already employ more than 53,000 Hoosiers.