TIPTON, IN -- A German company and Chrysler said Monday they will build a transmission factory that will eventually employ nearly 1,200 people near Tipton.
The factory will be a joint venture between Getrag Corporate Group, the world's largest independent transmission producer, and Chrysler. The $560 million plant will sit on 145 acres at the intersection of U.S. 31 and Indiana 28 and should be in operation by 2010.
Getrag purchased the land last month, and the company filed plans to build the factory in April. Construction crews have already started moving dirt on the factory site.
To help put the plant in Tipton County, the state is providing more than $12 million in tax credits, job-training grants and infrastructure improvements, 6News' Norman Cox reported.
Chrysler employs about 6,300 people at three transmission plants and one casting factory in Kokomo.
An undetermined number of the new plant's employees will come from Indiana's pool of laid-off Chrysler workers, Cox reported.
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