TG Missouri Corporation Announces $19 Million Expansion Plan
New Albany, Ind. (September 13, 2021) – Toyoda Gosei Co., Ltd., through its subsidiary TG Missouri Corporation, announced its intention to expand its Southern Indiana presence with a re-purposed manufacturing facility in New Albany. TG Missouri Corporation is a global leader in producing a wide range of products for a comfortable vehicle interior, including instrument panels, console boxes, exterior products, such as radiator grilles, that have a large impact on vehicle design and safety systems. The company will also continue to operate its existing facility at 5331 Foundation Boulevard in New Albany.
The expansion includes approximately $19 million of investments for land, building, and improvements, as well as new machinery and equipment. The facility will provide more than 50,000 sq. ft. of manufacturing space and will result in the addition of 150 full-time employees over three years, doubling the company’s current Southern Indiana workforce. TG Missouri Corporation will install forming machines, painting equipment, and other equipment in the building located at 5102 Barack Obama Way in New Albany. By expanding the use of the latest energy-saving molding equipment, the facility will carry out efficient and environmentally friendly manufacturing while also further developing Toyoda Gosei’s production network in the key North American market.
“We’re very excited to expand our footprint in southern Indiana,” said Chuck Agers, senior general manager, production for TG Missouri Corporation. “Along with our existing facility in New Albany, this new plant will provide the additional production capacity to meet the increased demand we are experiencing. The State of Indiana, the City of New Albany, and One Southern Indiana have all played a vital role in creating a climate that is conducive to business. TG is a great company to work for including opportunities to grow a career and top-notch benefit offerings. We’re thrilled to expand our workforce with steady, good-paying positions, and invite all interested applicants to visitwww.work4tg.com to learn more.”
“Thanks to strong support from the local community, One Southern Indiana, the City of New Albany, State of Indiana, and our dedicated Team Members, Toyoda Gosei has been able to build a strong manufacturing operation in Southern Indiana. We are excited to be able to further contribute to the sustainable economic development of the local community through this investment,” said Nobuhisa Tanaka, President and CEO of Toyoda Gosei North America.
The Indiana Economic Development Corporation (IEDC) is offering TG Missouri Corporation up to $900,000 in Economic Development for a Growing Economy (EDGE) tax credits which may be certified over a period of up to eight years. The IEDC also offered the company a non-refundable tax credit under the Hoosier Business Investment (HBI) Tax Credit program equal to the lesser of 5% of the company’s qualified investment made on or before December 31, 2023, or $400,000. These incentives are based on the expected creation of 150 net new full-time positions by the year 2023 for eligible Hoosiers.
“Today’s announcement only reinforces the positive economic momentum in Indiana,” said Jim Staton, SVP and chief business development officer for the IEDC. “We are encouraged by TG Missouri’s rapid growth in the state, and grateful for their continued commitment to providing quality career opportunities for Hoosiers in southern Indiana.”
The company will be seeking real and personal property tax abatements, which allow it to phase in its increased property taxes over time. The tax abatements offer the company an estimated savings of $400, 697 over the next 10 years. The New Albany City Council is scheduled to vote on final approval of the company’s local incentives on Thursday, September 16th with the project contingent upon the council’s approval.
“Since opening their first facility on Foundation Boulevard, TG Missouri has been an outstanding partner for the City of New Albany, employing more than 150 workers. With this new announcement, they’re doubling their local workforce, and doubling down on their commitment to the city and the region,” said New Albany Mayor Jeff Gahan, “I am excited about this expansion and look forward to many years of continued success and growth for our friends at TG Missouri.”
Wendy Dant Chesser, president and CEO of One Southern Indiana said, “TG Missouri choosing to locate here in 2005 was a significant milestone for Southern Indiana. Their decision to expand their presence here and double their workforce is a huge vote of confidence for the region. TG Missouri’s emphasis on excellence, environment, safety, and innovation continues to drive their success and makes them a valued addition to the portfolio of industries in the area. As always, 1si is prepared to assist them in any way we can.”
About TG Missouri Corporation
TG Missouri Corporation, a division of Toyoda Gosei, provides interior and exterior products, including trim parts, instrument panel parts and consoles, and safety systems for the automotive industry.
Toyoda Gosei is a leading global manufacturer of rubber and plastic automotive components, safety systems and LEDs. With a network of 64 group companies in 17 countries and regions, the Toyoda Gosei Group brings its extensive range of products to customers all over the world. In North America, Toyoda Gosei has more than 30 years of proven excellence in automotive manufacturing. Learn more at www.toyodagosei.com.
About One Southern Indiana
One Southern Indiana (1si) was formed in July of 2006 as the economic development organization and chamber of commerce serving Clark and Floyd counties. 1si’s mission is to provide the connections, resources, and services that help businesses innovate and thrive in the Southern Indiana / Louisville metro area.
Since its inception, the organization has taken a three-pronged approach to serve its members and investors. Business Resources, as the chamber side of the organization, encompasses membership, signature events, and programs which support and encourage business growth; Economic Development works to grow the regional economy through the attraction of new commerce and assists with retention and expansion of existing businesses; Advocacy supports businesses at the government level by engaging in the initiatives to preserve, protect and promote a business-friendly environment free of obstacles to growth and development of commerce. For more information on One Southern Indiana, visit www.1si.org.