Thursday, May 9, 2013

Star Reports Subaru Offered $9.5 in State Tax Credits for Investment in Lafayette

From the Indianapolis Star:

The $400 million expansion will bring 900 more jobs and an additional half-million square feet of plant space to Subaru of Indiana Automotive, making the 3,600-worker Tippecanoe County plant — already one of the largest manufacturing complexes in the state — even larger.

Subaru officials, joined by Indiana Gov. Mike Pence at a Wednesday announcement, said the Indiana plant was picked because of its proven success in making three other Subaru models, a pressing need to produce more Impreza cars for the North American market and a desire by Subaru parent Fuji Heavy Industries to move Impreza production out of Japan to avoid yen-dollar currency exchange fluctuations.
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Indiana Economic Development Corp. offered Subaru $9.5 million in state tax credits and up to $500,000 in training grants if it fulfills its hiring goals. The City of Lafayette also is considering property tax abatement for the expanded plant.
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http://www.indystar.com/apps/pbcs.dll/article?AID=2013305080027