Manufacturer, engineering firm plan to add jobs
A longtime Jackson County employer is planning a major investment in 2018 that has the potential to create nearly 250 new jobs. And a small local engineering company is expanding its injection molding business resulting in the need for two additional workers.
Valeo North America and C&T Engineering both received approval from the Seymour City Council on requests for tax abatements for their projects.
Jim Plump, executive director of Jackson County Industrial Development Corporation, spoke on behalf of both companies.
Plump said Valeo plans to spend $38.4 million to purchase new manufacturing equipment to support its business growth. The business has been producing automotive lighting systems in Seymour since 1978 and has developed several lighting innovations for the industry used by automakers worldwide. It’s estimated the investment will begin in January 2018 and be completed by the end of 2018, allowing the company to retain its current workforce of 1,578 and potentially hire an estimated 245 more. Those jobs will increase the city’s income tax base by $14.8 million.
C&T Engineering will spend $300,000 to purchase new injection molding equipment over the next year. The company, established in 1986, offers customers services including plastic injection molding, tooling, design engineering and production. C&T currently has 10 employees and expects to hire two new people as a result of the investment. The project is expected to be completed by the end of 2018.