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Last updated on Monday, November 7, 2016
(WASHINGTON) - M&C Tech, which produces plastic parts for the automotive industry announced plans to establish operations in Washington creating up to 70 new jobs by 2021.
The Japan-based company says I-69 was key in the decision.
The company, which is a joint venture between Moriroku Chemicals and Chubu Chemicals, will invest $4.6 million to build a 40,000-square-foot factory on 6.2 acres off County Road 200 East in Washington. Construction of the building is expected to begin this month and be completed in the summer of 2017.
M&C Tech marks the first Japanese investment in the Daviess County region. As part of its growth, M&C Tech Indiana plans to initially hire 25 associates and increase employment to 70 Hoosiers by 2021.
Indiana has the largest amount of Japanese investment per capita among all U.S. states and is the only state that is home to three Japanese automotive original equipment manufacturers.
More than 260 Japanese business facilities operate across Indiana, providing more than 53,000 Hoosier jobs.
The Indiana Economic Development Corporation offered M&C Tech Indiana up to $275,000 in conditional tax credits and up to $40,000 in training grants based on the company's job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
Daviess County and the city of Washington will consider additional incentives at the request of the Daviess County Economic Development Foundation.
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