$7M Investment Resulting in 64 New Jobs

$7M Investment Resulting in 64 New Jobs

thyssenkrupp Presta North America, LLC (thyssenkrupp Steering), a manufacturer of steering systems for the automotive industry, announced plans to expand its central Indiana operations, establishing a new technology center and creating up to 64 new jobs by 2020.

“Global companies like thyssenkrupp continue to turn to Indiana and our Hoosier workforce to develop new solutions for 21st century challenges,” said Indiana Secretary of Commerce Jim Schellinger. “Indiana is home to more than 800 foreign-owned business establishments like thyssenkrupp that provide quality jobs for Hoosiers across the state. Despite a world of options for its growth, thyssenkrupp chose Indiana, and I’m confident that our pro-growth business climate and our skilled workforce will be key partners in the companies’ future success.”

The company, a business unit of the €41.5 billion global industrial group thyssenkrupp, is investing more than $7 million to create a new 37,000-square-foot technology center at Exit Five Parkway in Fishers. The new facility will allow thyssenkrupp Steering to develop technologies to aid in the comfort and safety of steering as well as advance solutions to improve fuel economy and reduce carbon emissions for automobile manufacturers. The tech center is expected to be fully operational by next spring and, once complete, will house the company’s engineering operations currently located in Indianapolis and will complement its manufacturing facility in Terre Haute and its sales and technical office in Troy, Michigan.

thyssenkrupp Steering, which established a presence in Indiana in 2003, currently employs more than 500 associates across its central Indiana and Terre Haute operations. The company plans to begin hiring for engineering and research development positions next spring, with new positions expected to offer average salaries nearly double the state’s average wage.

“We are proud of our ongoing partnership with Indiana and to be a new member of the Fishers Community,” said Richard Hirschmann, chief executive officer of thyssenkrupp Steering in North America. “Fishers, with its entrepreneurial spirit, aligns strongly with thyssenkrupp’s values of ‘engineering. tomorrow. together.’ It is an ideal location to help us recruit the top talent we need to serve our customers in the ever-changing automotive industry.”

thyssenkrupp Steering has been serving automobile manufacturers across the world for 75 years, offering its customers solutions for steering systems and providing technology-driven solutions in the field of solid forming. The company serves car manufacturers by producing and developing steering systems for more than 20 million vehicles per year. With a global focus on developing products and innovative technologies like lightweight construction, electrical system support and autonomous driving, thyssenkrupp’s steering business has 16 production and development locations in Switzerland, Germany, France, Poland, Hungary, Mexico, Brazil, the U.S., China and Japan.

The company is part of the components technology business area of thyssenkrupp. The global materials and industrial engineering group also includes four additional business areas: Elevator Technology, Industrial Solutions, Material Services and Steel Europe. In North America, these thyssenkrupp business areas have more than 400 locations and 21,000 employees.

The Indiana Economic Development Corporation offered thyssenkrupp Presta USA LLC up to $950,000 in conditional tax credits and up to $200,000 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. The city of Fishers will consider additional incentives.

“I’m excited to welcome thyssenkrupp to Fishers’ fast-growing business community as we build a smart, vibrant and entrepreneurial city,” said Fishers Mayor Scott Fadness. “We look forward to seeing them continue to grow in Fishers as they establish a new center for technology for central Indiana.”

This month, Governor Eric J. Holcomb announced a record-breaking year for economic development in Indiana. In 2017, businesses like thyssenkrupp Steering have committed to creating up to 30,158 new Hoosier jobs in the coming years – an all-time high since the IEDC was established in 2005.