Electric Motors Corporation (EMC) Receives First Indiana Incentives to Launch Electric Automotive Technology
The State of Indiana is offering $4.6 million in tax credits and up to $200,000 in training grants to Electric Motors Corporation (EMC), based on the company’s plans to establish an electric vehicle industrial development park the state. This is the State’s first such grant under its incentive program to a company in the electric drive systems category.
This announcement follows a joint resolution by the City of Nappanee and Town of Wakarusa to support EMC’s plans for an electric vehicle industrial development park. The joint resolution was passed at the first joint session in the history of the two municipalities.
EMC, which develops and manufactures electric power drive systems for electric and hybrid vehicles, has partnered with RV manufacturer, Gulf Stream Coach, to produce a light-duty electric pickup truck. Together, the companies plan to invest in building renovations, machinery and equipment to site manufacturing facilities in Wakarusa and Nappanee.
EMC has also sought funding through the US Department of Energy’s program which provides loans and grants to automobile and parts manufacturers for the cost of re-equipping, expanding or establishing manufacturing facilities in the United States to produce advanced technology vehicles or qualified components. The Indiana Economic Development Corporation and the Elkhart Economic Development Corporation provided support for the company’s request.
EMC, a Camarillo, Calif.,-based company which has operations in two states, plans to purchase a existing building in or around Wakarusa and hire associates to produce and assemble electric hybrid drive systems and truck chassis.
Earlier in May, Electric Motors Corporation was acquired by Optimax Industries, Inc., a Colorado holding company, which changed its named to Electric Motors Corporation.