Where would a Getrag-Chrysler plant go?

And then there were four.

With the West Lafayette Economic Development Commission withdrawing itself from consideration - four sites remain in the running for a possible $560 million automotive manufacturing plant.

Among the contenders are Kokomo, Tipton County, Frankfort and Miami County.

Several officials have speculated that DaimlerChrysler, in a joint venture with Getrag, has been looking for a spot in central Indiana to construct a new transmission assembly plant.

Only one thing is certain - the plant won't be in Lafayette.

Cinda Kelley, the president of West Lafayette EDC, said the city recently pulled out because it wasn't a good fit.

"We are not working that deal," Kelley said Thursday.

Such a plant could bring 1,200 jobs and likely result in new residents for the winning county.

New residents would mean stronger housing market as well as an increase in revenue for local businesses, said Morton Marcus, a retired economist from Indiana University's Kelley School of Business.

Each of the four development sites would be impacted differently.

Tipton County has been plugging away at plans to bring in a new manufacturing plant for months. On Dec. 27, the Tipton County commissioners approved the rezoning of 188 acres for an industrial park, located near the intersection of U.S. 31 and Ind. 28.

The estimated $560 million investment doesn't include the cost for basic infrastructure of water, sewage, electric and fiber optics, said Bill Keir, executive director for Tipton's EDC. Utilities will likely come from the city, Keir said.

"This is the biggest project ever," Keir said. "One of the main changes will be in taxes. Any project of this size will generate a huge amount of revenue."

"The impact would be considerable in Tipton," Marcus agreed. Though he insisted the full impact depends on how many people move to the area and how it's funded.

"If the plant employs at the local level, they'll have much more to spend but their spending pattern will be the same, but you may buy a higher quality beer," he said.

While Keir expects Tipton residents to fill some of the jobs, he said many would be filled from neighboring counties, and long commutes. This leads him to believe there will be some new residents over time.

Tipton County would use Tax Increment Financing to pay for infrastructure and other development costs.

When a TIF district is formed, any revenue made above the original property taxes will be used to pay off the bonds the government used to fund the development, Marcus explained.

The upside is that it won't cause an additional tax burden on residents.

Marcus said a negative to using TIF bonds is the impact it can have on local schools.

An increase in households can help schools with more property tax revenue. However, a school wouldn't be able to support major influx of students on those taxes alone. Programs would be cut, Marcus said.

Miami County already has a TIF district established for its industrial park at the Grissom Aeroplex Facility, located off U.S. 31. The facility has at least 210 acres that are shovel ready, said Jim Tidd, executive director of the Miami County Economic Development Authority.

Tidd said infrastructure is already in place. If a large plant were to come to Miami County, Tidd said he would expect a regional work force coming from Miami, Cass, Fulton, Wabash, Howard and Tipton counties.

Local incomes would also be impacted, Marcus said.

"Vacancies at other locations either takes people into the labor force or draws people from outside to take lower paying jobs," he said." Even if they transfer from an existing plant, they'd have to replace those people," he explained.

Jason Hester, director of Kokomo City Community Development, believes a Chrysler-Getrag plant would be a good fit for Kokomo and Howard County. Kokomo has a site available off Davis Road and Smith Road, just west of U.S. 31.

Hester said there is sufficient infrastructure capacity offered through the Indiana American Water Co. and municipal wastewater. Hester hasn't said whether the city will set up a TIF district or use EDIT funds, Economic Development Income Tax, or other means of finance.

Frankfort's industrial park, located off Ind. 28, has both 1,000 acres available as well as infrastructure said Gina Sheets, director of economic development for Clinton County.

Clinton County would also use TIF districts to fund the development, Sheets said.

"We have not been to the table on this prospect," Sheets said.

If Clinton County was to secure such a development, Sheets said she would want to know more than just salaries and benefits, but how that will impact the community five, 10, 15 years from now.