KOKOMO, Ind. — Fiat Chrysler is investing a lot of money in Hoosiers to help build a new engine for their cars.
Governor Holcomb says the automaker wants to pump nearly $400 million into its plant in Kokomo. The plant already makes transmissions for Fiat Chrysler.
The plan is to retool the plant to start assembling complete engines, which is enough work to require more than a thousand Hoosiers But, Fiat Chrysler didn’t say exactly how many jobs it would be adding with the expansion.
“Our Indiana operations have historically been known as the largest transmission installation in the world,” Brad Clark, vice president and head of engine and transmission manufacturing for FCA North America, said in a news release. “With this potential investment, FCA has the opportunity to diversify our presence in the region. We look forward to working with the state and city of Kokomo to finalize our investment plans.”
Lots of tax incentives are being offered by the state, city, and even Duke Energy to help the plan along. Inside Indiana Business reports, the state has offered FCA up to $3.5 million in conditional tax credits and up to $500,000 in training grants, which the company will not be eligible to claim until Hoosier workers are hired for the new jobs.
Duke Energy has approved incentives to offset a portion of energy costs.
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