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Dana to invest $90 million, create 165 new jobs at axle plant

June 27th, 2016

News Coverage:

June 25, 2016

Dana to invest $90 million, create 165 new jobs at axle plant

Kevin Leininger | News-Sentinel

The installation of $90 million of new equipment is expected to create 165 new jobs at the Dana axle plant at 2100 W. State Blvd.

According to an application for tax incentives to be considered by City Council Tuesday, the new jobs would pay average salaries of $36,363, with a total payroll of $6 million. The plant currently employs 598 people earning about $33 million per year.

Ohio-based Dana Light Axle Products LLC reported sales of about $264 million last year. The new jobs would be phased in through 2020, with installation of new equipment starting this August. If approved by council, the tax abatement would save the company about $6.35 million over 10 years, with about $4.3 million in taxes paid on the equipment. Abatements temporarily reduce taxes paid on new buildings and equipment, with annual taxes reaching the full amount after the abatement expires.

The investment is good news for a facility that has weathered the highs and lows of the automotive industry. The plant employed fewer than 300 people in 2009, and the company went through bankruptcy several years ago. In 2008 Dana owed more than $2 million in taxes on its State Boulevard plant — the largest delinquency of any Allen County property owner. But those taxes have since been paid, according to the county treasurers office.'