COLUMBUS, Ind. (Oct. 25, 2020) – A local subsidiary for international company Nikkei MC Aluminum is receiving a tax abatement on an investment of $6.1 million into new equipment and facility expansion.
On Tuesday, city council approved a 10-year tax abatement for Nikkei MC Aluminum America, Inc. According to a memorandum from assistant director of community development Robin Hilber, the tax abatement is for a $1.25 million facility expansion of 1,440 square feet in order to accommodate the installation of $4.85 million in new manufacturing equipment.
Hilber added that the investment will result in 85 jobs being retained and the addition of 10 new jobs by July of 2021.
“The new manufacturing equipment will result in expanded capacity and also will result in a reduction in local energy consumption,” she told the city council. She said the project is set to start on Nov. 6.
Greater Columbus Economic Development Corp. President Jason Hester added that the tax abatement applies to the company’s “net new investment,” not their already-existing real and personal property.
“We like to say that we’re one of the greenest companies in the area because everything we do is completely recyclable,” he said. “You know, we ship the aluminum ingot or the molten metal across the street to Enkei. They take about 60 to 70% of our capacity. They cast the wheel and machine the wheels so we get the aluminum turned into the chips. They come back, we re-melt them.”
Nikkei MC Aluminum America, Inc (NMAA) is an international subsidiary of Nikkei MC Aluminum Co., Ltd. and a joint venture between the Mitsubishi Corporation and Nippon Light Metals of Japan.
According to NMAA’s website, Nikkei MC Aluminum began as M.C. Aluminum Co. Ltd., Inc. with two plants in Japan. In 1989, “M.C. Aluminum America” (as it was originally named) was formed in Columbus from a joint venture between the Mitsubishi Corporation, M.C. Aluminum Co., Ltd., Mitsubishi International Corporation, Enkei Corporation and Enkei America, Inc.
The Columbus subsidiary began production in 1990 and originally employed 20 individuals. Over the past 30 years, that number has grown to 85 employees, with 10 more to be added due to this project.
“We worked with the company on their abatement request, and we’re very proud to have done so, with them being one of our oldest Japanese manufacturers in the community,” Hester said. “We’re very pleased, especially the year that we’re in, to see $6 million in investment and new job creation.”
City council member Elaine Hilber likewise commended the company for the jobs it has brought to the area over the years.
“We really appreciate your investment in Columbus,” she said.
To read more check out The Republic's article at http://www.therepublic.com/2020/10/26/tax_abatement_approved_for_nikkei_mc_aluminum_america/