Truth Report
The Electric Motors Corp.-Gulf Stream Coach venture will generate about 100 to 200 new jobs by the end of this year, 400 new jobs by the end of 2010 and 1,100 jobs by the end of 2011, according to officials.
Jim Shea, the president of Gulf Stream Coach, said the venture will modify light-duty trucks such as the Ford F150 at the company's Nappanee facility. The factory is ready for the work, with only moderate re-tooling necessary, he said.
The first prototype is expected to be ready by July and additional prototypes may be ready for road testing by September.
Full-scale production is projected to begin by the end of 2010 or early 2011.
Gov. Mitch Daniels, who was among those speaking at today's press conference, said that people will ultimately remember today as the day the local economy began its recovery from the recession.
Electric Motor Corp.'s plans to locate in Wakarusa and Nappanee call for creation of up to 1,600 jobs in the two locales by 2012, according to a press release issued from State Rep. Jackie Walorski about the time of the press conference.
The firm, which announced its plans this morning at the press conference with Gov. Mitch Daniels, will partner with Gulf Stream Coach, investing more than $80 million in the plants. That will be used on building renovations, machinery and equipment in Wakarusa and Nappanee, enabling manufacture of light-duty electric pickups.
"We have a skilled workforce with an unmatched work ethic and EMC is exactly the company that can turn our (recreational vehicle) industry around," Walorski said in the statement.
The Indiana Economic Development Corp. offered EMC and Gulf Stream $14.3 million between them in performance-based tax credits to assist the effort.