Jobs, Employment, Resumes, Careers...Ultimatejobs.com jobs, careers, employment, resumes, find a job, search jobs, job search engines, it jobs,
-

 
Home  | About Us  |  Contact Us  |  Blog
Email address

Password
  
 
Home  
Registration  
Forgot Password?  
Jobmail  
My account  
Post Resume  
Search Jobs  
My Bookmarked Jobs  
Jobseeker support  
 
 
   
 
Latest News  
Ford adding 300 jobs at Lima, OH engine plant
( - 03/28/2014)
Amazon to hire 2,500 across U.S.
( - 02/27/2014)
Home Depot to hire 80,000 seasonal workers
( - 02/27/2014)
Domino's Pizza Inc.is seeking 200 new employees in Indiana
( - 02/27/2014)
Lowe's hiring 25,000 seasonal employees
( - 02/27/2014)
 
Show All news >>
Upcoming Events  
Denver CO Career Fair
Period: 04/24/2014
Location:

Doubletree Hotel Denver
3203 Quebec St.
Denver, CO 80207
 
Chicago IL West Career Fair
Period: 04/24/2014
Location:
The Congress Plaza Hotel
520 South Michigan Ave
Chicago, IL 60605
 
Minneapolis MN Career Fair
Period: 04/28/2014
Location:

Embassy Suites Minneapolis Airport
7901 34th Avenue South
Bloomington, MN 55425
 
Fort Lauderdale FL Career Fair
Period: 04/28/2014
Location:
Sheraton Fort Lauderdale Airport Hotel
1825 Griffin Road
Dania Beach, FL 33004
 
Los Angeles CA Job Fair
Period: 04/28/2014
Location:
Radisson Los Angeles Airport Hotel
6225 West Century Boulevard
Los Angeles, CA 90045
 
Show All Events >>
Latest Articles  
How to Become a Software Developer
(Career Planning - 09/23/2013)
Preparing for a Job Interview
(Interview Advice - 01/15/2013)
Do Your Research Before a Job Interview
(Interview Advice - 11/03/2011)
How to Decide on Resume Length
(Resume Advice - 11/02/2011)
Sample Interview Thank-You Letter
(Thank you letter / e-mail - 11/02/2011)
 
Show All articles >>
 
  News Details  
Current News | News Archive | Search News

GTI Plant in Anderson Indiana to hire 325 people

by - 07/24/2012
 
"GTI plant to employ 325, and supply Honda"
 
ANDERSON, Ind. — A company based in Ohio will be opening a facility in Anderson by early next year, and is expected to create 325 jobs over a five-year period, according to interim city economic development director Greg Winkler.

Winkler spoke about the project during an Anderson Redevelopment Commission meeting Monday, but did not disclose the name of the company, which is an automotive parts manufacturer.

The parent company is based in Japan and, along with its divisions, employs 3,100 people, Winkler said. He did not provide details of the parts that will be made or what company it will supply.

“It’s a very good company,” Winkler said.

The full economic development announcement will be made at 9:45 a.m. today by local officials, company executives and Gov. Mitch Daniels, according to a city news release.

A 150,000 square-foot plant will be built on 25 acres at the Flagship Enterprise Park, Winkler said. The facility must be operational by the end of the first quarter, or March, of 2013, he said.

The company will invest $21.5 million in the construction and purchase of equipment, Winkler said.

The annual payroll will be $9 million, excluding benefits, he said.

As an incentive for the company, the city is investing $3.25 million in tax increment financing (TIF) dollars for the construction. The TIF fund is made up of property taxes collected from new commercial, industrial and manufacturing businesses within a designated district to be spent on infrastructure improvements within the district or to benefit the district.

The redevelopment commission approved the use of TIF during its meeting on Monday. The investment still has to be approved by the plan commission, the economic development commission, the city council and a second time by the redevelopment commission.

Otto W. Krohn, an executive partner with financial firm O.W. Krohn and Associates, has analyzed the TIF district and has said the district is healthy, with a $6.6 million annual income.

During the analysis report in April, he said that at the time, the city had $25 million in total TIF obligations, which is what it owes on bonds and loans taken out for various projects. To pay off those debts, the city must make annual payments of $2.6 million for at least 10 years throughout the varying lifetimes of the bonds.

That leaves $4 million available each year for other projects.

On Monday, he said, “There is plenty of room to cover this project ($3.25 million for the new company) and future commitments.”

The incoming company will be paying full taxes, and won’t get any tax abatements.

The city’s $3.25 million investment will eventually make it back to the TIF fund as the company is added onto the tax collection rolls. In the meantime, the redevelopment commission will issue bonds to reimburse the TIF fund, Krohn said.

Krohn said he predicts that the city will collect about $4.3 million for the TIF fund during the company’s first 11 years.
 
 


 
  Home  |  About Us  |  Contact Us  |  Terms & Conditions  | Privacy Policy  |  FAQ  |  SiteMap  | Refer a Friend | Blog Copyright © 1997-2014 UltimateJobs.com