“OSR’s decision to expand in Indiana continues a long-standing tradition of Japanese manufacturers choosing our state for growth,” Indiana Secretary of Commerce Jim Schellinger said. “We’re proud of and grateful for our strong cultural and economic ties with Japan. Indiana is home to more than 290 Japanese business facilities that support thousands of quality jobs across the state, and we look forward to continued growth as companies like OSR grow and create even more career opportunities for Hoosiers.”
The company, which is a joint venture between Nagoya, Japan-based Owari Precise Products Co. Ltd and Columbus-based Rightway Fasteners Inc. (RFI), will construct and equip a new 82,395-square-foot manufacturing facility near its current facility in Woodside Northwest Industrial Park. With construction set to begin immediately, OSR expects to move into the larger space by the end of 2020, increasing its Indiana footprint by more than 40,000 square feet. The new facility, which will require nearly $5 million in property improvement and $2 million in new manufacturing, quality and logistics equipment, will allow OSR to produce a broader range of metal fasteners. Construction of the new facility is to begin immediately and is expected to be completed by the end of this year.
OSR, which currently has 29 employees in Indiana, plans to begin increasing its production at the beginning of 2020. To support its growth, the company plans to add up to 12 new positions in sales, quality and shipping and is hiring immediately for positions in IT and heat treatment. Interested applicants may contact firstname.lastname@example.org.
“Columbus, Indiana, has proven to be a very good business location for us,” said Makoto Inagaki, president of OSR Inc. “Because of the support from the city of Columbus and our strong relationship with Indiana government and industry partners within the state and in Japan, it was an easy decision to invest here.”
Established in 2002, OSR specializes in M4 to M9 cold-forged fasteners, primarily for Toyota Motor Engineering & Manufacturing North America plants. Owari Precise Products Co. Ltd, which was established more than 100 years ago, began by manufacturing grandfather clocks and transitioned into manufacturing fasteners. RFI, which manufactures specialty fasteners in Columbus, was also established as a joint venture by four Japanese-owned companies: Meidoh Co. Ltd, Nagoya Dacro, Toyota Tsusho America and Sannohashi.
“OSR’s investment represents a significant milestone for the company, and it is the latest example of our decades-long track record of supporting and welcoming foreign direct investment, especially from Japan,” said Columbus Mayor Jim Lienhoop. “We are very pleased to welcome OSR’s first stand-alone U.S. manufacturing facility, and we wish them great success in the years ahead.”
The Indiana Economic Development Corporation offered OSR up to $110,000 in conditional tax credits based on the company’s plans to create 12 new jobs by the end of 2019. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Columbus, with support of the Greater Columbus Economic Development Corporation, recently approved a 10-year property tax phase-in to produce savings of up to $750,000 to the company over 10 years.
Indiana is home to more than 290 Japanese business facilities, including original equipment manufacturers like Subaru of Indiana Automotive, Toyota Motor Manufacturing of Indiana and Honda Motor North America, as well as automotive suppliers like OSR. Together, these companies support 65,000 Hoosier jobs.
About OSR Inc.
OSR Inc. is a manufacturer of automotive fasteners and provides parts primarily to Toyota. The company, currently located at 7715 S. International Drive in the Woodside Northwest Industrial Park, has been in operation in Columbus since 2002. OSR, Inc. was established through a joint venture by Owari Precise Products Co. Ltd, and Rightway Fasteners Inc.
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 15-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.