Business

Auto industry supplier plans $90 million Indiana expansion

Posted October 17, 2018 7:00 am

The Associated Press

COLUMBUS, Ind. (AP) - A Japan-based automotive industry supplier is planning to expand its manufacturing operations in southern Indiana.

Gov. Eric Holcomb's office this week announced the plans by NTN Driveshaft Inc. in Bartholomew County that could lead to 100 new jobs by 2023.

The company plans to invest $90 million to increase its forging operations, purchasing and installing two hot forge presses and other equipment. As part of its expansion, the company plans to renovate existing space and expand its Columbus facility. Increased production is planned to start next fall.

NTN Driveshaft is part of NTN Corp., which makes mechanical parts and equipment, such as bearings, drive shafts and production equipment. The Indiana Economic Development Corp. offered NTN Driveshaft up to $750,000 in conditional tax credits based on the company's job creation plans.

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