KTR Corporation Expanding North American Headquarters
KTR Corporation is adding two new production lines in its Michigan City facility, increasing domestic content value, while retaining and creating new jobs here in Michigan City.
KTR Corporation is a wholly owned and operated subsidiary of KTR Kupplungstechnik, GmbH. A global network of manufacturing and technical sales teams provides consistent quality production and services for all KTR products. KTR has over 40 subsidiary companies, comprised of engineering offices and distribution partners focused and up-to-date on market demand. KTR Corporation’s ability to coordinate market and technical information quickly enables them to fulfill the demands of their customers and distributors. The short channel of communication within the KTR team generates flexibility and responsiveness, critical for today’s global markets.
This project will provide additional capacity to manufacture large shaft-to-shaft couplings required to support continual North American pump industry growth. Furthermore the investment will allow greater flexibility to the manufactured product in Michigan City as opposed to reliance on other KTR manufacturing locations.
KTR Corporation will be investing over $500,000 in addition to 5 new jobs to its current workforce of 60 at its location on 122 Anchor Rd., Michigan City, Indiana.
The tax abatement was approved unanimously by the Michigan City Council at a meeting Tuesday night and will save the company about $40,000.
“We are delighted that Michigan City, Indiana continues to attract and retain global companies that are seeking a high quality of life, great workforce and a progressive community.” said Michigan City Mayor Ron Meer.
KTR Corporation’s Controller John Osborn said, “The tax abatement will allow us to further reduce the overall costs of this project and to demonstrate to our parent company in Germany that the project is not cost restrictive and that Michigan City, Indiana remains a favorable location for manufacturing.”
Michigan City will benefit from the additional employment being made available when the project is completed.
EDCMC Chairman, Chuck Compton, CAO of Chicago South Shore & South Bend Freight RR said, “Michigan City, Indiana continues to grow its advanced manufacturing sector which is one of the key industries we are pursuing and this project is a testament to our community’s business friendly environment.”
Economic Development Corporation Michigan City, Indiana (EDCMC) addresses the needs of local businesses with the Business Retention and Expansion Program (BR&E). Through the program, EDCMC works to understand the local business climate, determine future expansion plans with local action, acquaint business executives with programs available through its partners and provide effective solutions to specific concerns and problems.
Local companies looking to expand their business may call the EDCMC at (219) 873-1211 for more information. For more information on KTR Corporation, visit http://www.ktr.com/us/index/company/about_us.htm.