Busche Enterprise Division Inc., an Indiana machining group, is investing $17.4 million to add 36,000 sq.ft. of new manufacturing space, at a new location near its headquarters in Albion, Ind. The project will add new CNC machining capacity for Busche’s production of steering and brake components, and may lead to as many as 120 new employees by 2015.
Specific details of new production capabilities were not announced. Busche supplies OEMs and other manufacturers, worldwide, and reported 2011 sales of nearly $100 million.
Construction will begin this fall and manufacturing is expected to begin early in 2013. Busche already has seven operations with a total of 432,000 sq.ft. of production space, and 550 employees.
The Indiana Economic Development Corp., the state’s development agency, is providing Busche Enterprise Division up to $600,000 in conditional tax credits and up to $150,000 in training grants based on the company’s job creation plans. Local tax authorities are considering additional property tax abatement for the project.
“The state of Indiana and the local economic development folks have shown a willingness to do what is necessary to attract businesses to our state,” stated Nick A. Busche, president and CEO of Busche. “The recent passage of the right-to-work law was just another example of the strong commitment by this state to promote growth and job creation. Indiana offers an enthusiastic business climate and a great workforce.”