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January 23, 2008
COLUMBUS, IN. - Diesel engine maker Cummins Inc. said Wednesday it will add 500 professional employees over the next two years and will lease an additional office building here to meet expected growth.
The 500 new positions will mostly be engineering jobs, the company said. Cummins (nyse: CMI - news - people ) currently has approximately 5,500 employees and 900 contract workers in Columbus. It has more than 35,000 worldwide.
The 100,000 square foot office building, which is currently under construction, is part of the Commons Mall redevelopment project. The project is slated to be completed in the first quarter of 2009 and will call for demolition of most of the existing mall and the construction of a new hotel, conference center and additional retail locations.
Cummins also said a parking garage is planned to be built near its new office building.
The garage is expected to cost about $8 million, with various grants covering the cost, Cummins said.
Other financial terms weren't disclosed.
Shares fell a penny to $45.32 in aftermarket electronic trading. The stock close up $2.71, or 6.4 percent, at $45.33 during the regular session.
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