Continental Structural Plastics, Inc. (CSP), an exterior body panels and structural composites components supplier, announced plans today to expand its operations here, creating up to 50 new jobs by 2015.
The Michigan-based company will invest $6.3 million to renovate and equip its 203,000 square-foot Huntington facility to accommodate a new production line for the 2015 Corvette model body panels. Renovations on the facility, which currently manufactures products for other General Motors and Ford vehicles, is expected to be operational by spring 2013.
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The Indiana Economic Development Corporation offered Continental Structural Plastics, Inc. up to $300,000 in conditional tax credits and up to $50,000 in training grants based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Huntington will consider additional property tax abatement at the request of Huntington County Economic Development.
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CSP’s announcement is the most recent in a series of automotive manufacturer expansions. Just this past month, auto parts suppliers TRIN, Hitachi Powdered Metals (USA), VOSS Automotive and Tsuda Industries announced expansion plans in the Hoosier State. The companies will cumulatively create more than 280 jobs and invest more than $1.24 million in their Indiana operations.
