A Steuben County manufacturer plans a nearly $10 million expansion investment in Angola that includes adding up to 95 jobs by 2016, the state’s economic development agent announced Monday night.
Autoform Tool & Manufacturing Inc., often referred to as ATM, currently has a plant in Fremont but plans to purchase, renovate and equip facilities at 1501 Wohlert St. in Angola, the Indiana Economic Development Corp. said in a written statement. The 10-acre Angola campus, which includes two buildings with a combined 165,000 square feet of production space, is scheduled to be operational in January.
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The Angola council Monday night approved a 10-year tax abatement on equipment for Autoform and a two-year abatement for the building expansion, Hickman said. He could not immediately recall how much money the abatements will save the company.
The Indiana Economic Development Corp. offered Autoform Tool & Manufacturing up to $700,000 in conditional tax credits based on the company’s job creation plans. The tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives, the state said.
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In October 2006, Autoform announced it would invest more than $4 million on new equipment and a building expansion in Fremont, adding 37,500 square feet to a 50,000-square-foot plant. The company employed about 100 at the time and that expansion was expected to add 51 jobs within three years.
