Toyota Boshoku Indiana, an automotive component manufacturer, announced plans to expand its production operations in the area, resulting in the creation of as many as 160 new jobs.
The company, a subsidiary of Japan-based Toyota Boshoku Corp., will invest $10.59 million to construct and equip a 42,000-square-foot addition to its manufacturing facility at 1698 S. 100 West in Princeton.
With its expansion, Toyota Boshoku Indiana's operations will grow to 524,000 square feet across 57 acres and the company will begin producing vehicle seats and doors for the Toyota Highlander. Toyota Boshoku Indiana currently produces interior seat systems for the Toyota Sienna and manufactured seats for 147,620 vehicles last year.
Toyota Boshoku Indiana employs more than 1,000 people in Princeton.
Toyota Boshoku Indiana is currently hiring for assembly, production control and welding positions. Interested people may apply through the company's website.
Launching operations in Indiana in 2007, Toyota Boshoku is a global automotive systems manufacturer. A member of the Toyota Group, Toyota Boshoku operates more than 90 facilities around the world, including 19 across North and South America. The company's growth in Indiana is driven in part by Toyota Motor Manufacturing Indiana's success in Princeton, where the company assembled more than 375,000 units of the Toyota Highlander, Highlander Hybrid, Sienna and Sequoia just last year.
After consolidating Highlander production to Gibson County in 2012, TMMI has announced expansions three of the last four years.
The Indiana Economic Development Corp. offered Toyota Boshoku Indiana LLC up to $900,000 in conditional tax credits and up to $200,000 in training grants based on the company's job creation plans. According to the governor's office, those incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
The Gibson County Council approved a tax abatement for the company, at the request of the Gibson County Economic Development Corp.
"We are very excited Toyota Boshoku Corporation in Japan targeted Gibson County with another round of capital investment and thus an expansion of their Gibson County plant," said Jeremy Overton, president of the Gibson County Council. "We realize the tax abatement valued at $505,000 our council provided and the proposed Tax Increment Financing District, valued at $1.4M to Toyota Boshoku, are vital for the growth of jobs and additional investment in our community."