Chrysler announced plans Monday to spend $162 million to open a transmission plant in Tipton that would put about 850 people to work.
The plant, located at U.S. 31 and State Road 28, was originally built as part of a partnership between Chrysler and Getrag Transmission. At the time, the companies expected to employ about 1,200 people before the partnership fell through.
According to our newsgathering partners at the Indianapolis Business Journal, Chrysler plans to make nine-speed transmissions at the facility. The automaker hopes to install equipment there starting in June 2013. Operations would launch by the end of 2014.
Tipton officials approved a 10-year tax abatement worth nearly $49 million to help get the 800,000-square-foot plant up and running.
In addition to the Chrysler/Gertrag plan, a Colorado-based solar panel manufacturer planned to set up shop there in 2010. The company, Abound Solar, received a $400 million federal loan guarantee. Those plans went by the wayside after the company filed for bankruptcy liquidation earlier this year.