PRINCETON—Gibson County Commissioners are reviewing a request from Toyota Boshoku Indiana for use of $1.7 million in Tax Increment Finance revenue, and extension of a road that would allow the company to create 160 more jobs.
Gibson County Economic Development Corp. President/CEO Todd Mosby made the request on behalf of the Toyota supplier Tuesday night, and commissioners plan to decide in two weeks whether they’ll endorse the proposal for consideration by the Gibson County Redevelopment Commission.
Mosby said the company, which makes seats for the Toyota Sienna minivans manufactured south of Princeton, is competing with Lawrenceville, Illinois-based Automotive Technology Systems LLC for a contract to make seats and interior parts for the Gibson County-made Highlander sport utility vehicle.
The proposed investment in the expansion is $9.5 million to $11.6 million, creating 160 more jobs starting at $13.05 per hour.
The company wants use of $1.7 million in TIF revenue plus a 475-foot extension of a local road that runs along the property. Mosby said rough estimates for the road extension are about $450,000.
Mosby said the company’s track records includes paying salaries ranging from $13.05 to $17.06 per hour plus another $1,200 in monthly company benefits for each employee. The plant employs 900 people now, 40 percent living in Gibson County, with a $60 million annual payroll.
Mosby said the company donated $45,000 n community projects in 2014, and invested $40,000 in a regional skills training center.
The proposal for use of TIF revenue would include “clawbacks” protecting the county if TBIN doesn’t create the promised jobs.
Commissioners said they want to review the proposal and consult with the county highway engineer about the proposed road extension before voting on an endorsement.
If commissioners endorse the request, the Gibson County Redevelopment Commission would decide whether the project gets use of TIF revenue.
“We’ve got to make a decision relatively quick,” TBIN plant manager Ted Smith told commissioners Tuesday night.
Smith said TBIN asks general contractors for the expansion work to work with local contractors. “In all of our projects, if we can do it in Gibson County, we do,” he said Tuesday night.