Shelbyville Attracts More International Investment
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowJapan-based Ryobi Limited has announced plans to expand its operations in Shelbyville, creating up to 150 new jobs by 2018. The company will invest nearly $100 million to purchase and equip a facility next to its existing Shelbyville die casting operations. Ryobi Die Casting Inc. launched in 1985 and employs more than 800 workers. The company says it plans to hire for manufacturing and management positions over the next 18 months.
The Indiana Economic Development Corp. offered Ryobi up to $850,000 in tax incentives and training grants based on the job creation plans. The city of Shelbyville will also consider incentives.
The announcement marks the latest international investment in Shelbyville in recent months. Last month, Tokyo-based Nippon Steel & Sumitomo Metal Corp. detailed plans to invest $50 million to build a 150,000 square-foot facility and create up to 70 jobs by 2021. That facility is expected to be fully operational in 2018.
In March, agriculture equipment company Krone North America announced plans to move its headquarters from Memphis, Tennessee to Shelbyville and create more than 100 jobs by 2021. The $12.5 million facility will include a distribution center, showroom and training space. At the time, Mayor Tom DeBaun called the move a "huge win" for the city and its work force. Krone is owned by Germany-based Bernard Krone Holding GmbH & Co. KG.