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TROY, MICH. (Nov. 14, 2:50 p.m. ET) — Continental Structural Plastics Inc. plans to invest $6.3 million to renovate its Huntington, Ind., plant to accommodate a new production line for the 2015 Corvette body panels.
The Troy-based compression molder expects the project to add 50 jobs by 2015. Huntington currently employs 286.
The 203,000-square-foot facility currently makes exterior body panels and structural composites components for other General Motors and Ford vehicles. The addition is scheduled to be operational by spring 2013.
CSP employs more than 1,890, with other plants in North Baltimore, Ohio; Van Wert, Ohio; Carey, Ohio; Conneaut, Ohio; Sarepta, La.; and Tijuana, Mexico.
The Indiana Economic Development Corp. offered CSP up to $300,000 in conditional tax credits and up to $50,000 in training grants, based on hiring plans. The city of Huntington also will consider a property tax abatement.
CSP had planned to expand the Huntington plant in 2010, when the firm was considering closing its North Baltimore plant and moving the work to Indiana.