- Associated Press - Friday, March 3, 2017

ANDERSON, Ind. (AP) - A Japan-based company plans to spend $100 million on building a new auto-parts factory in central Indiana.

State and local officials joined NTK Precision Axle Corp. executives in announcing the plans Friday in Anderson. The company says it expects to start construction this spring and begin production of drive-shaft components in October 2018. Officials project the factory will hire 200 workers over the next five years.

The company is a subsidiary of NTN Corp. It operates another factory in Anderson and plants in the Indiana cities of Columbus and Frankfort.

The Indiana Economic Development Corp. says it is offering the company $1 million in tax credits based on plans to add 140 jobs by 2020.

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