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Indiana Gov. Mitch Daniels has joined business officials to announce the expansion of a steel foundry in Tell City that's expected to create up to 160 jobs by the end of 2012.
A unit of the German steelmaker ThyssenKrupp AG said Tuesday it will invest $36.5 million in equipment to expand capacity at the 480,000-square-foot plant. It's about 130 miles southwest of Indianapolis.
The plant opened in 1997. It's part of the company's Marinette, Wis.-based unit ThyssenKrupp Waupaca.
The Indiana Economic Development Corp. is providing up to $1.55 million in tax credits for the project.
Officials say hiring has started.
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