The Indiana Wheel Company (IWC) announced plans this week to launch operations in Plymouth.
In a joint venture led by China-based, Jingu Company Limited which is similar to the Steel Fabrication Melbourne, the start-up manufacturer plans to take over the vacant Bay Valley Foods Building on VanVactor Drive in Plymouth.
According to information released by the Marshall County Economic Development Corporation, Indiana Wheel Company specializes in the production and distribution of RV and trailer wheels. IWC’s parent company, Jingu, has 33 years in the steel wheel manufacturing industry.
IWC will invest approximately $23 million in the expansion and plans to create nearly 117 jobs by 2022. The expansion will include building improvements to the 300,000 square foot production facility that formerly housed Bay Valley Foods along with plans to purchase and install all the manufacturing equipment necessary to fabricate, assemble, and distribute steel wheels.
Officials from the Indiana Economic Development Corporation say the organization offered IWC up to $1.2 million in conditional tax credits based on the company’s job creation plans. These tax credits are performance-based Until area residents are hired, the company is not eligible to claim incentives.
