3/31/2014 12:06:00 AM
NEWS BRIEFS
Indiana Automotive Fasteners Expanding – Again
Indiana Automotive Fasteners is investing $21.7 million in expansions and adding at least 25 jobs over the next two years, according to the Greenfield Daily Reporter.
IAF has received unanimous approval on abatements for property taxes.
IAF will add $15 million in new equipment, plus $6.7 million in building space, including 45,000 sq ft of office space and 48,900 sq ft of manufacturing space at its Anderson Boulevard site, according to the Daily Reporter.
IAF has been growing in recent years. In the fall of 2012, IAF employed 378; now the company has 549 employees making just over $24 million in salaries.
“The 25 new manufacturing employees announced Wednesday will mean $688,480 in additional payroll by 2016, with the average starting wage at $13.24 an hour, increasing to $14.40 an hour after six months on the job,” writes Maribeth Vaughn of the Daily Reporter.
IAF is headquartered at 1300 West Anderson Blvd., Greenfield, IN 46140. Tel: 317-467-0100 Web: iafi.com ©2014 GlobalFastenerNews.com
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