Madison Precision Products, a Japanese-owned automotive parts manufacturer located in Madison, Ind., recently announced a $16 million expansion at its Madison, Ind., facility. State economic development officials met with executives from Metts Corp., Madison Precision Products’ parent company, during a trade mission to Japan last month.

Madison Precision Products is a leader in aluminum die-casting and manufactures a variety of machined automotive components for Honda of America, the company’s primary customer. The expansion is a result of the company winning a bid for a new Honda contract and will add manufacturing space and new equipment to the 188,170 square foot facility.

"I am pleased to announce the expansion of our Madison facility," said Madison Precision Products President Katsunobu Nakamura. “I appreciate the help of the community of Madison and Jefferson County, as well as the state of Indiana.”

The Indiana Economic Development Corp. and Jefferson County provided incentives to assist with the expansion project. The IEDC offered incentives including up to $58,500 in training grants and approximately $850,000 in tax credits based on job creation and capital investment. Jefferson County will provide the company with a 10-year tax abatement on both real and personal property.

Go to STATE SPOTLIGHTS to read more about other news and articles about this state.

Go to INDUSTRY SPOTLIGHTS to read more about other news and articles about this industry sector.