Italian Company Chooses Fort Wayne
October 7, 2013
News Release
FORT WAYNE, Ind. - Coram USA LLC, a global manufacturer of automotive components, announced plans today to expand its operations here, creating up to 35 new jobs by 2016.
The company, which is a subsidiary of the Italy-based Coram Group, will invest $1.1 million to lease, renovate and equip a 20,000 square-foot facility in Fort Wayne. Coram USA plans to move its warehousing for the North American market from Italy to the new facility and begin production and distribution of steering columns this winter.
"When presented with so many options, international companies like Coram choose Indiana for its world-class business environment," said Victor Smith, Indiana Secretary of Commerce. "Indiana has the best manufacturing workforce in the nation. If you add this to our central U.S. location and pro-growth policies, it becomes clear why so many international companies recognize Indiana as a state that works."
Coram USA, which currently employs more than 200 associates internationally, plans to begin hiring assembly, quality, purchasing and accounting positions later this year.
"Coram Group is a dynamic company that is present in different parts of the world, and we were very impressed by the skills of the people we initially met, and by the efficiency of the organizations deputed to attract investments in Fort Wayne," said Angelo Piantoni, president of Coram USA. "Here, we will produce high quality products for American vehicles, and we will bring here our experience, passion and know-how, to grow in the United States."
Founded in 1957, Coram designs, manufactures and sells parts for heavy-duty commercial vehicles, agricultural machines, construction equipment, material handling machines and wind generators. The company, which also has facilities in Italy and Taiwan, serves customers throughout the world.
The Indiana Economic Development Corporation offered Coram USA LLC up to $215,000 in conditional tax credits and up to $50,000 in training grants based on the companys job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Fort Wayne will consider additional tax abatement at the request of the Fort Wayne-Allen County Economic Development Alliance.
"The city is excited to have another international company choose Fort Wayne for its North American headquarters," said Fort Wayne Mayor Tom Henry. "We are excited to be able to provide a prosperous and thriving environment for Coram to continue to grow."
International companies find the resources they need to grow and thrive in Indiana. Heartland Automotive, whose parent company is Japan-based Shigeru Company, Ltd., announced just last month plans to expand its Lafayette operations, adding more than 200 new jobs. The company cited Indiana's central location, competitiveness and strong workforce for its decision to expand in the Hoosier State.
About Coram
Coram USA LLC is a part of the Coram Group and is a privately held global supplier of steering columns and other automotive components. Based in Cologne Italy since 1957, Coram has operated with a passion to design, manufacture and sell reliable products to be installed on commercial vehicles, agricultural machines, construction equipment, and material handling machines.To learn more about Coram Group, visit www.coramgroup.com.
About IEDC
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.
Source: The Indiana Economic Development Corp.
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