JASPER, Ind. (Dec. 13, 2012) – Jasper Engine Exchange, Inc. (Jasper Engines), an engine and transmission remanufacturer, announced plans today to expand its headquarters here, creating up to 40 new jobs by 2016.
The homegrown-Hoosier company, which remanufactures drivetrain components, will invest $550,000 to update and equip its current 367,000 square-foot facility at 815 Wernsing Road in Jasper. The expansion will accommodate Jasper Engines growing alternative fuels division, remanufactured diesel engine related product line and support the increased production of gas engines for the Canadian Postal Service.
“Once again, Jasper Engines is recognizing that Indiana is a cost-effective environment to further grow its business,” said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. “Our favorable business climate continues to draw investment and new jobs to all corners of our state and we’re happy that today Jasper is the beneficiary of good news.”
Jasper Engines’ latest expansion in southern Indiana is the company’s second in as many years. The company announced plans in 2010 to invest more than $270,000 to relocate two of its out-of-state operations to its Crawford and Dubois county facilities, creating up to 65 new jobs.
“This expansion and job creation has been made possible by the growth in several areas of our business, among them the diesel engine market, with regard to a new turbocharger line, our alternate fuels division and our gas engine division through a multi-year contract with the Canadian Postal Service,” said Zach Bawel, president of Jasper Engines. “We have witnessed tremendous growth in our 70 years of business, and this is a tribute to not only the quality of our product but also the quality of the many Hoosiers we employ.”
Jasper Engines currently employs 1,700 associates throughout the United States with 1,160 in Indiana. It has already begun hiring additional mechanical, welding, sales and research and development associates in Jasper.
Founded in Jasper in 1942, the company produces more than 130,000 gas and diesel engines, transmissions, differentials and rear axle assemblies each year. Serving customers in the automotive repair, package delivery and aviation industries, the associate-owned company also operates production facilities in Leavenworth, Ind. and Willow Springs, Mo. and has 41 branch and distribution locations across the country.
The Indiana Economic Development Corporation offered Jasper Engine Exchange, Inc. up to $150,000 in conditional tax credits and up to $100,000 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 city of Jasper also supports this project.
“Jasper Engines has been an extraordinary company for the city of Jasper since its founding 70 years ago,” said Jasper Mayor Terry Seitz. “This marks the sixth significant economic development in Jasper this year and we see this as a positive step for not only the associates of Jasper Engines but for the local community of Jasper as well.”
Jasper Engines' announcement comes just a week after southwest Indiana was chosen as the site for a new $1 billion fertilizer plant. Ohio Valley Resources plans to construct a nitrogen fertilizer facility on 150 acres in Spencer County, creating up to 80 new jobs by 2016. The facility will be the first of its type to be constructed in America by a U.S.-based firm in more than a quarter-century.
About Jasper Engines
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. Included in the product mix are engines and transmissions for performance and classic car restorations as well as engines and conversion systems for alternate fuel applications. JASPER operates three remanufacturing facilities and distributes its products nationwide through their 41 branch locations and two distribution centers. JASPER is committed to providing high quality, value-oriented products with excellent customer service.
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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Mike Pfau (Jasper Engines) – 812.482.1041 or email@example.com
Katelyn Hancock (IEDC) – 317.234.2294 or firstname.lastname@example.org