Jasper, Indiana (April 30, 2014) – CEO Doug Bawel joined state and local officials in announcing the company’s plans to expand its footprint in Jasper, Indiana, to create additional jobs and reinvest in the former Kimball Plastics manufacturing facility located at 1220 Power Drive in Jasper, Indiana.
“Jasper Engines & Transmissions is a great Indiana economic success story. The company that has prospered and provided thousands of jobs for Hoosiers for over 70 years is expanding again,” said Lt. Gov. Ellspermann. “We continue to see how our business-friendly tax and regulatory policies plus our dedicated workforce make Indiana a place where companies want to expand and locate. Our record-breaking job growth shows that Indiana truly is a state that works.”
The homegrown-Hoosier company, which remanufactures drivetrain components, plans to invest $6.9 million to renovate and equip a 220,000 sq. foot facility presently vacant within ½ mile of its current 367,000 square-foot facility at 815 Wernsing Road in Jasper. The additional facility will become the new home of JASPER’S Transmission Division which includes disassembly, machining, assembly, testing and warehousing of automotive drivetrain components. Bawel said they plan to be fully operational this fall.
JASPER currently employs more than 2,600 Associates throughout the United States, including more than 1,445 in Indiana. The company has already begun advertising for positions in manufacturing, maintenance, information technology, distribution, engineering and quality control positions in Jasper.
“When looking at our options for expansion, no other place measured up to the business climate in Indiana,” said Doug Bawel, Chairman and Chief Executive Officer of JASPER. “Jasper Engines and Transmissions is growing at a high rate and this expansion is thanks to our hard-working Associates and our company’s dedication to excellence in producing our products. This is Phase One of the approval needed for this project as we now await Phase Two which is the City of Jasper’s approval of local real and personal tax abatement. We are excited to grow production here, and are very hopeful, with the State taking the lead, we can bring this project to fruition quickly.”
Jim Thyen, President and CEO of Kimball International, stated "This transaction is clearly a "Win-Win" scenario for everyone: Kimball, Jasper Engines and Transmissions, and the local community. We are extremely happy that we could reach agreement with a local company who we know to be a long-time, good corporate citizen in the community. JASPER’s expansion sends a strong message about the viability of this industrial area and our community's openness to economic development."
The Indiana Economic Development Corporation offered Jasper Engine Exchange, Inc. up to $1,150,000 in conditional tax credits and up to $200,000 in training grants 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 project is contingent upon Jasper Engines and Transmissions receiving real and personal property tax abatement from the City of Jasper.
About Jasper Engines & Transmissions
Jasper Engine & Transmission Exchange, founded in 1942, is a remanufacturer of drivetrain components, including gas and diesel engines, transmissions and differentials. The company also remanufactures marine components such as stern drives, outboard powerheads and lower units, as well as, diesel fuel and air system components. Included in the product mix are engines and transmissions for performance and classic car restorations. JASPER operates three remanufacturing facilities and distributes its products nationwide through their 42 branch locations and two distribution centers. JASPER is committed to providing high quality, value-oriented products with excellent customer service.