Governor Eric J. Holcomb joined Indianapolis Mayor Joe Hogsett, town of Speedway officials, and executives from Allison Transmission to celebrate the company's planned growth across a variety of initiatives, which will create more than 300 new jobs through 2020. As part of its expansion plans, the global manufacturer of propulsion solutions for medium- and heavy-duty commercial vehicles broke ground on its new Innovation Center in Indianapolis.
Over the next few years, Allison Transmission will invest more than $400 million in its business including investment in a new Vehicle Environmental Test (VET) facility in Indianapolis, which was recently announced, building a new Innovation Center and expanding its core business. The VET, which is expected to be operational by 2020, will include two environmental chambers capable of simulating temperature extremes, altitude and on-road conditions that will allow testing for regulatory compliance, on-board diagnostic development and performance improvements for vehicle optimization.
“Allison Transmission has deep roots in Indiana, and I couldn't be more excited about the company's continued commitment to driving innovation right here at home in the heart of the heartland," said Gov. Holcomb. "The increased investment we're celebrating makes Allison, our state, and our people well-positioned for future growth. I'm confident that as a global player in Indiana's high-tech success, Allison will continue to lead the way and provide more quality career opportunities for future generations of Hoosiers."
The Innovation Center, which is expected to be operational in 2021, will feature expanded and unique virtual and physical system simulation, as well as development and validation capabilities to support customers, partners and supplier relationships. This includes regulatory compliance simulation, as well as broader collaboration on future technology and product initiatives.
Allison will construct and equip the 95,000-square-foot facility next to its west side Indianapolis headquarters. Investment in the new Innovation Center supports Allison's commitment to developing advancements for alternative-fuel and electric vehicles.
"The Innovation Center will consolidate our product engineering groups and facilitate internal and external collaboration for technology and product co-development," said David Graziosi, president and CEO of Allison Transmission. "The concepts being generated and simulated in this state-of-the-art facility will allow us to bring new technology and products to market more efficiently and faster that add value to our customers, partners, and suppliers. All of this was made possible because of a great partnership with the state of Indiana, city of Indianapolis and town of Speedway."
Allison Transmission employs 2,900 associates worldwide including approximately 2,600 in Indiana. The company plans to add more than 300 new employees, across the VET, Innovation Center, and its core business, including immediate openings in engineering, purchasing and marketing, sales, and service.
The Indiana Economic Development Corporation offered Allison Transmission up to $7 million in conditional tax credits and up to $50,000 based on the company's plans to expand and invest in innovation in Indiana. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis and the town of Speedway also support the project.
Originally posted on Work Truck Online