Submitted by kpaul.mallasch on Wed, 05/23/2007 - 1:44am.
Cities: MuncieCounties: Delaware CountyMFP Tags: Terry Murphy, Muncie Delaware County Economic Development AllianceTopics: BusinessTypes: News
Cities: MuncieCounties: Delaware CountyMFP Tags: Terry Murphy, Muncie Delaware County Economic Development AllianceTopics: BusinessTypes: News
Miasa Automotive to Locate Its U.S. Operations in Delaware County
MUNCIE, IN - Miasa Automotive LLC, a subsidiary of Spanish Miasa, a leader manufacturer of transmission components, announced last Friday that the company will establish its first U.S. presence in Delaware County, creating 12 new jobs.
The company will invest more than $1.4 million to locate its new production facility northeast of the City of Muncie at 3100 East, County Road 350 North.
"Creating an environment that attracts investment from around the world is essential to Indiana�s economic success," said Nathan Feltman, Indiana Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "The commitment of Miasa to Indiana is yet another indication that Indiana is becoming the global location of choice for businesses."
Miasa Automotive LLC will manufacture gearbox components for New York-based Magna Powertrain, an international supplier of engine and driveline components to General Motors, Ford, Honda, Toyota and BMW.
Miasa's choice to locate its new operations in Indiana comes after Magna Powertrain requested that the company establish a U.S.-based operation to improve cost efficiency and product development. Miasa, a former supplier of a Muncie-based New Venture Gear, opted to locate in Indiana rather than co-locating with Magna in New York due to East Central Indiana's established industrial network, said Sergio Palacios, Miasa's project manager.
"Locating in Delaware County is the best option for our business," Palacios said. "We expect to see continued growth in the coming years through new contracts from Magna and the development of a new customer base."
The Indiana Economic Development Corporation offered Miasa up to $55,000 in performance-based tax credits and $8,500 in training grants based on the company�s announced plans. Through the Delaware County Economic Development Alliance, Delaware County officials offered property tax abatement worth more than $25,000.
"Miasa is an internationally renowned company, and their decision to locate here speaks volumes about the quality of our workforce and the economic environment Delaware County offers," said John Brooke, president of the Delaware County Commissioners. "Miasa is the type of growing company that we are seeking to attract and one that we are confident will prosper and grow in Delaware County."
Vision 2011 staff assisted the company with site location, tax abatement and state incentives.
Terry Murphy, Vice President, Economic Development for the Muncie-Delaware County Economic Development Alliance said "Miasa is a great company and has a tremendous upside to grow here in our community."
"We are excited that they have chosen Delaware County as the location for their first U. S. plant and will continue to work with them to grow and prosper here," added Murphy.
Source: Muncie Delaware County Economic Development Alliance
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