Metaldyne Performance Group (NYSE: MPG), a leading provider of highly engineered components for use in powertrain and suspension applications for the global light, commercial and industrial vehicle markets, announced plans to expand its operations in North Vernon, Ind., creating up to 126 new jobs by 2019.
The Michigan-based company will invest $30.6 million to lease and equip a 32,400-square-foot facility in North Vernon. With construction scheduled to begin later this month and operations slated to begin in 2018, the new building will be adjacent to its current 130,000-square-foot facility in North Vernon. Connected by a breezeway, the two buildings will provide expanded space for the company to increase production of its powder forged connecting rods, which major automobile manufacturers use to improve fuel-efficiency in their gasoline and diesel engines.
MPG currently employs more than 12,000 associates around the world, including nearly 200 in North Vernon. The company plans to begin hiring highly-skilled CNC machine operators and engineers in the first quarter of 2017.
“Our North Vernon manufacturing operations has been a strong performing plant for MPG and its customers for many years,” said Doug Grimm, president and chief operating officer at MPG. “We are excited about this new expansion, and we appreciate the support from the state of Indiana.”
The Indiana Economic Development Corporation offered MPG conditional tax credits and training grants based on the company’s job creation plans. These tax credits are performance-based, meaning the company is not eligible to claim incentives until local applicants have been hired. The city of North Vernon has also approved additional incentives at the request of the Jennings County Economic Development Commission.
“MPG, formerly operating as Metaldyne, has been a member of this community for many years and we are extremely pleased they chose the North Vernon facility for their expansion project,” said North Vernon Mayor Mike Ochs. “We very much appreciate their commitment and investment which will impact not only Jennings County but south central Indiana.”
Founded in 2014 from the merger of three metal-forming technology companies, today MPG is the world’s largest supplier of powder forged connecting rods. With its high-strength, lightweight designs, the company’s rods are ideal for use in high-efficiency engines, using a high-yield process that minimizes material waste. MPG operates more than 60 facilities around the world.
