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FORT WAYNE – A Bryan, Ohio-based parts manufacturer Tuesday announced plans to invest $4.8 million as it expands its operation to northeast Indiana.
Triton Metal Products, a business being formed by Industrial Steering Products, plans to create up to 111 new jobs in Hamilton by 2014, according to a news release from the Indiana Economic Development Corp.
Formed in 1982, Industrial Steering Products makes steering pitman arms and draglinks for the heavy truck, medical, military, aerial lift, food processing and motor home industries.
Triton Metal Products, which is being spun off from the parent company, will be a full-service machining and fabricating provider. The company will move into 93,000 square feet of existing commercial space about 35 miles northeast of Fort Wayne.
Milton Otero, Hamilton’s town manager, said the population of 1,200 will embrace the new employer.
Town, Steuben County and state officials wooed Triton Metal Products, a female-owned small-business enterprise.
The Indiana Economic Development Corp. offered up to $620,000 in performance-based tax credits and up to $50,000 in training grants, based on the company’s job-creation plans. The town of Hamilton will consider additional property tax abatement on machinery and building improvements.
“Indiana is a very progressive state that has many good programs and resources in place for new businesses,” Triton manager John Freudenberger said in a written statement. “After exploring all our options, the hard work from the state, Steuben County and the town of Hamilton helped best position our business to take advantage of the difficult economic times.”
“We look forward to joining the community and creating new jobs as we grow Triton Metal Products in Hamilton,” he said.
Gary Nielander, executive director of the Steuben County Economic Development Corp., said teamwork helped bring the employer to the area. The county, like most of northeast Indiana, has been hit hard by the loss of manufacturing jobs during the recession.
Steuben’s unemployment rate was 12.7 percent in October, the most recent data available.
