Jackson County’s largest industrial employer is planning to invest more than $28.5 million in its Seymour facilities and create 19 new jobs over the next two years.
On Monday night, the Seymour City Council approved three tax abatement requests from Aisin USA Mfg. Inc. An abatement allows businesses to phase in paying taxes on personal property and real estate improvements over the next 10 years.
The company is purchasing new machinery and equipment for both of its Eastside Industrial Park plants and is implementing improvement projects to support production of automotive components for new and existing vehicle models.
Aisin manufactures and supplies automotive parts, including doorframe components, latching systems and seating and trim molding.
The expenditures will allow the company to accommodate for change requirements in Toyota’s Sienna, Camry, Highlander, Corolla and Avalon lines, the Honda Odyssey and Chevrolet, Subaru and Lexus models.
According to statement of benefits forms filed with the city last week, the projects are scheduled to begin June 1 and be completed in 2020.
At Plant 1, located at 1700 E. Fourth St., the company is anticipating spending an estimated $2.6 million in renovations and $22.9 million in new manufacturing equipment for a total of $25.5 million.
Currently, Aisin has a workforce of 1,395 employees at Plant 1 and expects that to grow by 19 as a result of the investments, said Jim Plump, executive director of Jackson County Industrial Development Corp. The added jobs will increase the local income tax base by nearly $1 million in salaries.
An additional $3 million is projected to be invested at Plant 2 at 500 Burkart Blvd., but no jobs are projected to be added to its workforce of 450, Plump said.