Continental Structural Plastics, which makes exterior body panels and structural composites components, announced Tuesday that it plans to expand its operations in Huntington, creating up to 50 new jobs by 2015.
The Michigan-based company will invest $6.3 million to renovate and equip its 203,000-square-foot Huntington facility to accommodate a new production line for the 2015 Corvette model body panels. Renovations on the facility, which currently manufactures products for other General Motors and Ford vehicles, is expected to be operational by next spring.
"CSP's growth reflects the proven strength of the Hoosier State's automotive industry, a sector hard hit by the sluggish national economy," said Dan Hasler, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corp, in a news release. "However, the industry is on the rebound with Indiana leading the recovery thanks to our work in preserving a low-tax, pro-business environment,"
CSP currently has 286 full-time employees in Huntington and has already begun hiring additional production, logistics, engineering and administrative associates.
Founded in 1969, today CSP employs more than 1,890 people at six production facilities across the Midwest.
The Indiana Economic Development Corporation offered CSP up to $300,000 in conditional tax credits and up to $50,000 in training grants based on the company's job creation plans. The city of Huntington will consider additional property tax abatement at the request of Huntington County Economic Development.