Automotive Parts Supplier Expanding in Steuben County
ANGOLA, Ind. (Sept. 17, 2012) - Autoform Tool & Manufacturing, Inc. (ATM) announced plans today to expand its operations here, creating up to 95 new jobs by 2016.
The home-grown Hoosier company, which currently operates in nearby Fremont, Ind., plans to expand its current operations and workforce to Angola, investing approximately $10 million to purchase, renovate and equip facilities at 1501 Wohlert St. The 10-acre Angola campus, which includes two buildings offering a combined 165,000 square feet of production space, is slated to be operational in January of 2013.
"Locally-owned companies like ATM are the foundation of Indiana's economy. As these companies get bigger, it's nice to see them stay, invest and create more jobs in the Hoosier State," said Governor Mitch Daniels. "ATM has employed Hoosiers for many years and we're glad they've chosen to expand in Steuben County again."
The company, which currently has more than 170 full-time employees in Fremont, plans to begin hiring additional manufacturing, production, quality control and engineering associates next year. All current employees will be transferred approximately seven miles away to the new campus as part of the project.
"When I went out on my own 16 years ago, Fremont welcomed my business and they have been great to work with over the years. We will do whatever we can to assist the town in finding a new business for the ATM building," said Robert Jacoby, owner of ATM. "ATM is happy to call Steuben County and the state of Indiana home and we look forward to continued growth here."
Founded in 1996, the company was established as a specialty tools manufacturer for the tube fabrication industry. In the resulting years, ATM expanded its product line to include fuel rails, fuel senders and direct injection components to serve tier 1 automotive suppliers and original equipment manufacturers (OEMs) such as Bosch, Delphi, Hitachi and Continental.
The Indiana Economic Development Corporation offered Autoform Tool & Manufacturing, Inc. up to $700,000 in conditional tax credits based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Angola approved additional property tax abatement at the request of the Steuben County Economic Development Corporation.
"I can recall when Robert Jacoby broke ground on the Wohlert Street facility in 1985 as an employee of Handy & Harman and it just seems fitting that his business will continue to grow in this location," said Angola Mayor Richard Hickman. "We are sorry for the loss experienced by Fremont, but the positives outweigh the negatives - everybody retains their jobs and ATM has room to grow."
According to the U.S. Bureau of Economic Analysis, Indiana's automotive industry is the second largest in the country, producing more than $9.8 billion in goods annually. The Hoosier State is home to more than 630 automotive companies, including automobile assembly facilities from six different OEMs, more than any other state.
Autoform Tool & Manufacturing, Inc. (ATM) was founded in 1996 to meet the tooling needs of the tube fabrication industry. ATM, which is a privately owned company, entered the production manufacturing business of tubular products for the automotive industry with specific concentration on fuel rails. Through our superior customer service, sound business practices, valued employees, and utilizing cutting edge technology that is either developed in-house or brought from the outside, ATM can provide customers the best value and service in the industry. For additional information about ATM, visit www.autoformtool.com
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Dan Hasler serves as the chief executive officer of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
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