$450M offered in Getrag site takeover

TIPTON COUNTY, Ind. (WISH) - An unnamed company has expressed interest in the plant that was to be home to Getrag Transmission Manufacturing in Tipton County.

Tipton County Commissioner Jane Harper said the commissioners have signed an agreement forbidding them to disclose the name of the company.

In a meeting Monday night, commissioners discussed certain economic incentives they would provide the company to locate at the Getrag site. Commission President Ken Ziegler said a $450 million incentive package is being offered. Ziegler added that, right now, there's no timetable for a decision.

Harper said she wanted to "temper the enthusiasm" over Monday's meeting with a dose of reality. She said there is still a long way to go before the interested company would inhabit the site.

The Kokomo Tribune, one of 24-Hour News 8's news gathering partners, reports that a renewable-energy firm is eyeing the Getrag site.

The paper reports its sources have said the company is based in the western U.S. and would produce solar panels. The paper also said the company would bring 800 jobs to Tipton County.

Fifth District Congressman Dan Burton told 24-Hour News 8 in a phone interview Monday afternoon that he is trying to help find financing for the company.

"I called the county commissioners the other day and they gave me some details on a company that wants to lease the plant, the building, with the possibility of buying it later on," Burton said.

He said he could not name the plant because he doesn't know how "tenuous" the situation is right now.

Burton said getting the company to come to Tipton County could involve getting a government grant.

"And I told them (the commissioners) if they would get me the details I would do everything I could, along with possibly Senator Lugar, Senator Bayh and the other congressman from the Howard County area to try to help them get that grant if it was agreeable."

A Tipton hardware store owner, Tim Horton, said he has heard a solar panel company is considering the Tipton site.

Horton said many in Tipton were disappointed when the Getrag deal fell through, "because a lot of the people that live here worked there, you know. That was going to be a big boost."

He said even though there's no sure deal for the plant now, he was excited to hear there may be. "Who wouldn't be?"