Franklin manufacturers plan expansions worth $70M

SourceDaily Journal
Date Published05/08/2023
Author NameLeeann Doerflein

Additional Reshoring Information:

Company/Division name Essex Furukawa
Parent companyFurukawa Electric Co., Ltd.
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):15
Year reshoring announced:2023
Capital investment ($):60
Country(ies) from which reshored:Japan
City reshored to:Franklin
State(s) reshored to:IN
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredmagnet wire to be used in electric and hybrid EV
What domestic positive factors made reshoring more attractive?Government Incentives, Under-utilized capacity, tax abatements
Government Incentive dollar amount:$7.32 million over 10 years
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