Statement as distributed Thursday by the Indiana Economic Development Corporation:
BREMEN, Ind. (April 11, 2013) - Nishikawa Cooper, LLC d/b/a NISCO, a sealing systems manufacturer for the automotive industry, announced plans today to expand its operations here, creating up to 34 new jobs by 2015.
The Topeka, Ind.-headquartered company will invest $12.7 million to equip its 150,000 square-foot facility located at 501 High Road in Bremen. As part of the expansion, which is expected to be completed by July, NISCO will install new equipment to accommodate the company’s door hole sealing finishing capabilities.
“Growing companies like NISCO know that when it comes to a state that works for business, Indiana has it all,” said Eric Doden, president of the Indiana Economic Development Corporation. “From our expansive infrastructure to our low-tax policies, the Hoosier State provides automotive manufacturing companies the framework for success.”
Today’s announcement marks NISCO’s third expansion in Indiana in less than a year. In February, the company made plans to invest $8.6 million to install new equipment at its Topeka headquarters, resulting in the creation of 25 new jobs. Also, last June, the company announced plans to invest $5.5 million to add additional equipment to its Topeka facility, creating 15 new jobs.
“This expansion represents our long-term plan to maintain our commitment to our clients and the state of Indiana,” said Mike Talaga, vice president and general manager of NISCO. “As we continue to broaden our product offerings and seek to look for more ways to better service our clients, we look forward to being able to look towards the talented workforce in Indiana to continue our success.”
NISCO, which currently has 925 full-time employees in Indiana, has already begun hiring additional finishing associates, operators and engineers in Bremen.
Founded in 1986 as a joint venture between Japan-based Nishikawa Rubber Company and Michigan-based Cooper Standard, NISCO manufactures sealing systems for both foreign and domestic original equipment manufacturing automotive companies. The company, which also has a sales and design office located in Novi, Mich., is a Tier-1 supplier for Honda, Toyota, Chrysler and Subaru.
“This expansion by NISCO is the second largest expansion in Bremen in the last six months and will go a long way in boosting the local economy and putting a lot of people back to work,” said Rich Martin, director of operations of the town of Bremen. “Hopefully, the trend will continue, and Bremen will be a shining example of a ’can do’ attitude, and it has been a pleasure to be in the forefront of this type of development.”
The Indiana Economic Development Corporation offered Nishikawa Cooper, LLC up to $225,000 in conditional tax credits 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 town of Bremen approved additional tax abatement at the request of the Marshall County Economic Development Corporation.
Topeka, Ind.-based Nishikawa Cooper LLC (NISCO) is a joint Japanese-American venture between Nishikawa Rubber Company of Hiroshima, Japan and Cooper Standard of Novi, Mich. Founded in 1986 in Topeka, Ind., the company is a Tier I supplier of dynamic rubber weather-stripping to the automotive industry, and has attained Ford Q-1, TS 16949, ISO 9001, and ISO 14001 designations.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president 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.