Thursday, February 28, 2013

Tribune Reports Chrysler Investing $300 Million in Tipton and Kokomo

From the Kokomo Tribune:

Chrysler CEO Sergio Marchionne announced late Thursday morning Tipton and Kokomo would collectively bring in more than 1,000 jobs and more than $300 million in investment dollars through the production 8- and 9-speed transmissions, a new technology that increases fuel efficiency in larger vehicles.

Governor Mike Pence was on hand for the announcement that stated Tipton will produce 9-speed transmissions, a move that will add 850 jobs and $162 million worth of investments.
...

In December, the Kokomo City Council voted to approve property tax breaks requested by Chrysler for $212 million in new equipment for its factories in the city. Tipton County officials also endorsed a similar request on Chrysler's $162 million plans to complete a sprawling factory along U.S. 31 that has never been occupied. German auto parts maker Getrag stopped construction in 2008.
...

Chrysler's request to Kokomo officials said the investment will help retain 3,400 jobs in the city.
 
- See more at: http://kokomotribune.com/local/x564665464/Chrysler-to-announce-investment-in-Kokomo-plants#sthash.7DJHvUvP.dpuf