Chrysler Group LLC on Monday night said it was planning to spend as much $212 million on another expansion in Kokomo that could add more than 400 jobs.
The Kokomo Common Council? on Monday night approved a property tax abatement for Chrysler in hopes of luring the investment.
Chrysler last week confirmed it was seeking the tax incentives but hadn't provided details.
Earlier in the day, the Auburn Hills, Mich.-based automaker said it planned to spend $162 million to open a transmission plant in nearby Tipton that will employ up to 850 people.
The Tipton County Board of Commissioners on Monday approved a 10-year tax abatement worth $2.5 million to help the company launch production in an existing, nearly 800,000-square-foot plant at U.S. 31 and State Road 28, about 25 miles north of Carmel.
The automaker emphasized on Monday that plans for the projects are not yet final. Executives continue to negotiate building purchases, among other crucial steps.
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The company has three existing transmission plants and a casting plant in Kokomo. The four plants already employ more than 5,000 people.
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Combined with the introduction of eight-speed transmissions the company is putting in certain Chrysler 300s and Dodge Chargers, Chrysler has invested about $1.3 billion in Kokomo since emerging from bankruptcy in 2009.
Source: http://www.ibj.com/chrysler-plans-400-more-jobs-212m-expansion-in-kokomo/PARAMS/article/38574
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