Mon Jun 17, 2019
Author: RV News
Indiana Wheel Corporation, a startup manufacturing company that produces and distributes steel wheels, is bringing its manufacturing operations for the trailer and RV industries to north central Indiana.
The company, in a joint venture with the China-based Jingu Company Limited, will invest nearly $23 million to purchase, renovate and equip a 300,000-square-foot factory at 2935 Vanvactor Drive in Plymouth. The planned on-site infrastructure improvements will feature more than $14.5 million of state-of-the-art, specially-designed equipment. The company is expected to bring up to 117 jobs to Marshall County.
"Indiana's fiscally-predictable, pro-growth business climate and talented workforce continue to attract companies from around the world, with foreign direct investment committed to Indiana up more than 300 percent since 2016," Gov. Eric J. Holcomb said. "We’re pleased to welcome the IWC to Indiana and look forward to the company’s growth and future contributions to the Marshall County economy and community as a whole.”
The factory upgrades are scheduled to begin this summer. The company expects to start production later this year.
IWC plans to add 60 full-time employees by the end of 2019. It will start by hiring executives, skilled machinists, and operations and administrative associates.
"With a low-cost, business-friendly environment and highly-skilled workforce, Indiana is the perfect place to launch and grow our manufacturing of steel wheels for the trailer and RV industries," IWC President David Saylor said. "As we scale IWC's operations in north central Indiana, we plan to build our customer base and exceed expectations in both quality and service. We appreciate the strong relationship established with the city, the state, and with our partners, and we look forward to growing together right here in Plymouth.”
With its investment in IWC, Jingu will add a U.S. location to complement its global steel wheel manufacturing operations. The publicly-traded, tier-one supplier for automotive companies, such as General Motors, Volkswagen and Ford Motor Company, is the largest steel wheel manufacturer in China.
The company is headquartered in Fuyang District, Zhejiang Province, which has shared a sister-state relationship with Indiana for more than 30 years. The partnership promotes economic, cultural and educational ties between the two states.
“Marshall County and the city of Plymouth have made great strides to prepare ourselves for new business expansions, and we believe IWC will benefit from our preparation," Plymouth Mayor Mark Senter said. "We are grateful to our economic development partners who have significantly weighed in to make the project feasible. We’re thankful for the high-quality jobs and automation that this expansion will bring."
The Indiana Economic Development Corporation offered IWC up to $1.2 million in conditional tax credits based on the company's plans to create jobs. The tax credits are performance-based, meaning until workers are hired, the company is not eligible to claim incentives.
The city of Plymouth is considering additional incentives at the request of the Marshall County Economic Development Corporation.
IWC joins a network of more than 950 foreign-owned businesses operating in Indiana, including more than 21 China-based enterprises.