NTK Precision Axel Corp. will make a $92 million investment to build a 300,000 sq. ft. facility in Anderson, the Herald Bulletin reports.
Construction is expected to start in April at the site adjacent to sister company’s NTN Driveshaft building near 73rd St. and Layton Rd.
The city of Anderson is providing an incentive of $1.6 million from Tax Increment Financing revenues for NTK to purchase 40 acres from NTN, the newspaper reported.
The Anderson city council will be asked to approve a 70 percent abatement on real and property taxes for 10 years. After 10 years, the city would collect 100 percent of assessed taxes.
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The Indiana Economic Development Corporation will offer NTK $1 million in conditional tax credits based on the company’s plan to have 140 jobs in place by 2020.
NTK president Tadao Okamura said the company is excited about starting operations in Anderson and thanked city and state officials for making the investment possible.
NTK is a joint partnership of NTN USA Takao Kogyo — an international company related to precision machining of power train parts — and Neturen USA.
Construction is currently ongoing for NTN Driveshaft Anderson facility as well, Inside Indiana Business reports.