Subaru of Indiana Automotive plans to expand its Lafayette plant again. The company announced Wednesday it will add production of the Subaru Impreza in 2016. The expansion means an investment of more than $400 million and the creation of up to 900 new jobs. SIA executive vice president Tom Easterday says this is an economic boon for the entire community.
"There was a study by the Center for Automotive Research out of Detroit in April 2010 and that showed that there is a multiplier effect of ten for every one job created by an auto manufacturer about ten jobs are created in the economy," Easterday said, "So our 900 new jobs here at SIA could mean 9,000 jobs on the economy as a whole."
Lafayette mayor Tony Roswarski says the announcement is important for all residents of Tippecanoe County.
"These are good paying jobs that give people a chance to have a high quality of life, opportunities for their children. That investment is going to span well out into the community," said Roswarski. "There is just going to be more resources for a lot of things. This is very personal to me because I know it's not only going to impact the quality of life for people in Tippecanoe County but really for the entire region."
Governor Mike Pence was on hand for the announcement. He agrees with Roswarski and says the expansion at SIA will have a positive effect on businesses throughout the state.
"The number of companies all over Indiana that do business with Subaru of Indiana and the impact they have on the communities they're in," said Pence. "As well as our opportunities to leverage more companies that do business with this great company and other automotive companies in the Hoosier state to come into Indiana."
The Indiana Economic Development Corporation offered the company up to $9.5 million in conditional tax credits and up to $500,000 in training grants based on the company's job creation plans. Adding the Impreza line will increase the SIA plant's production by 100,000 vehicles a year.
