Members of the Plymouth City Council took the first step in the Tax Abatement process Monday evening for the property at 2935 VanVactor Drive. The council unanimously passes a resolution declaring the property to be an Economic Revitalization Area.
Jerry Chavez, Marshall County Economic Development Corporation CEO and President discussed the expansion project proposed by Jingu North America Corporation with council members.
Indiana Wheel Company is owned 50% by Jingu and began production last year in Plymouth making steel wheels for the RV and Trailer Industry.
Jingu CEO, David Saylor told the council Indiana Wheel continues to ramp up production and currently has 110 employees and is working to hire an additional crew. Indiana Wheel is only using the north building on the city’s northwest side. Saylor said the new company would occupy the other building and produce OEM (original equipment manufacturer) steel wheels for cars and light trucks.
Jingu North America plans on investing $31.3 million for the expansion project. They estimate 80 new full-time position with the expansion.
Terms of the Tax Abatement will be determined during the next meeting of the Plymouth City Council on October 12th.