Andover Coils, a manufacturer of ignition coils and transformers, announced plans to expand its Lafayette, Ind.-based operations, creating as many as 52 new jobs by 2013.
The company, which makes ignition coils for use in the marine, automotive, aviation, industrial and health care industries, plans to invest $1.3 million to upgrade equipment and computer hardware at its 48,000-square-foot headquarters.
The Indiana Economic Development Corp. offered the company as much as $150,000 in performance-based tax credits based on the company's job creation plans. The city of Lafayette will consider additional property tax abatement at the request of Greater Lafayette Commerce.
Andover Coils' growth is the result of a recent acquisition of a competitor based in Illinois.
The company employs more than 30 associates in Lafayette and plans to begin hiring additional manufacturing, supervisory and maintenance personnel in the first quarter of next year as additional operations are phased in at the facility.
"As the economy continues to rebound, there is no better time to grow the business by consolidating with a competitor. And there is no better place to do it than here in Indiana, where we have a great work force and 90 percent of our supplier base," co-owner Mike Coyle said in a statement.
Founded in 1946, Andover Coils makes ignition and power conversion equipment for performance automotive, motorcycle, marine and aircraft engine OEMs and aftermarket suppliers.