Auto parts manufacturer growing in New Albany
NEW ALBANY, Ind. (Inside INdiana Business) — A Missouri-based automotive components manufacturer is planning to expand operations in southern Indiana. TG Missouri Corp. says it will invest $19 million to repurpose a 50,000-square-foot manufacturing facility and double its workforce by creating 150 jobs over three years. The company produces various interior and exterior products, including trim parts, instrument panel parts and consoles, and safety systems.
The investment will include new machinery and equipment such as forming machines and painting equipment, according to One Southern Indiana, the chamber of commerce and economic development organization for Clark and Floyd counties.
In addition to the new location, TG Missouri plans to continue operating its existing facility in New Albany.
“Along with our existing facility in New Albany, this new plant will provide the additional production capacity to meet the increased demand we are experiencing,” Chuck Agers, senior general manager of production for TG Missouri. “The State of Indiana, the City of New Albany, and One Southern Indiana have all played a vital role in creating a climate that is conducive to business. TG is a great company to work for including opportunities to grow a career and top-notch benefit offerings.”
The Indiana Economic Development Corp. has offered TG Missouri up to $900,000 in EDGE tax credits, as well as a Hoosier Business Investment tax credit, which is valued at 5% of the company’s qualified investment made before Dec. 31, 2023 or $400,000.
The New Albany City Council will also consider additional incentives at its meeting on Thursday, which would save the company more than $400,000 over the next 10 years.
“TG Missouri choosing to locate here in 2005 was a significant milestone for Southern Indiana,” said Wendy Dant Chesser, chief executive officer of 1si. “Their decision to expand their presence here and double their workforce is a huge vote of confidence for the region. TG Missouri’s emphasis on excellence, environment, safety and innovation continues to drive their success, and makes them a valued addition to the portfolio of industries in the area.”
TG Missouri Corp. is a subsidiary of Toyoda Gosei Co. Ltd., a global manufacturer of rubber and plastic automotive components, safety systems and LEDs headquartered in Japan.