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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowChain system manufacturer Iwis Drive Systems LLC today said it will expand and relocate its Indianapolis operation, adding 40 employees to its roster of 18.
A subsidiary of the Germany-based Iwis Group, the company plans to invest more than $1.5 million to upgrade equipment and move from its current facility near the Indianapolis airport to a 60,000 square-foot space on Zionsville Road on the city’s northwest side. The local operation is the company’s North American headquarters.
Iwis makes chains, sprocket wheels and accessories for agricultural and industrial equipment.
The move should be complete by the end of next month, and the expansion is planned over the next three years.
The Indiana Economic Development Corp. offered Iwis up to $235,000 in performance-based tax credits and up to $28,500 in training grants based on the company’s job creation plans. City property tax abatements are still in the works.
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