Aisin U.S.A. Mfg., Inc. has announced plans for major growth and investment at its Seymour locations.
The company plans an expenditure of nearly $40 million over the next two years for “new manufacturing equipment and renovations to existing equipment related to customer design change requirements and new model requirements for automotive components,” the company said in a news release. The expansion also is expected to create 70 new jobs.
Betsy Cornett, finance unit manager, said the company will invest $31,311,420 in personal property and $465,000 in real property at Aisin’s Plant 1, located at 1700 East Fourth Street in the East Side Industrial Park and an additional $7,936,870 for equipment at Plant 2, located at 500 Burkart Blvd.
To support the company, Seymour City Council approved a 10-year tax abatement for the investment, and the Indiana Economic Development Corporation awarded Aisin U.S.A. up to $750,000 in Economic Development for a Growing Economy (EDGE) tax credits.
The new equipment will produce components for Toyota vehicle models Sienna, Camry, Highlander, Corolla, and Avalon, as well as Honda Odyssey, Chevrolet, Subaru, and Lexus, and will allow to company to retain its workforce of 1,900 associates.