Indiana Gov. Daniels Visits EnerDel Plant, Unveils Incentive Package for Major Expansion in Lithium Ion Battery Facilities

CEO Hails Daniels' Leadership & Support for New Manufacturing Jobs, Cites Growing Demand for Advanced Automotive Power Solutions

INDIANAPOLIS, Aug. 21 -- Indiana Governor Mitch Daniels today joined with the CEO and other officials from advanced lithium-ion battery developer EnerDel to announce a set of performance-based incentives associated with major expansion plans at the company's Indianapolis manufacturing facilities. EnerDel leaders praised Daniels for his strong leadership in crafting a package designed to bring new jobs and enhanced competitiveness for the state's high tech and automotive manufacturing base at a crucial time in a growing industry.

"Gov. Daniels knows that the future of the American economy depends on clean technology. Automakers are in a global race to deliver a new generation of hybrid and advanced electric vehicles that reduce or eliminate our dependence on the gas pump," said Ulrik Grape, Chief Executive Officer of EnerDel. "He has made an outstanding effort to make sure that Indiana and its people play a key role in this new and growing market. We would not be standing here today without his firm commitment to the future."

The Indiana Economic Development Corporation offered EnerDel up to $7.125 million in performance-based tax credits and up to $58,000 in training grants based on the company's job creation plans. The cities of Indianapolis and Noblesville will consider property tax abatement at the request of the Indy Partnership. The company will also seek local incentive offers from Indiana communities for the third manufacturing location.

The developer of lithium-ion batteries for hybrid, plug-in electric and electric vehicles will expand its Indianapolis research and cell production center, build and equip a battery pack assembly center in nearby Noblesville, and locate a full-scale manufacturing operation at a still to be selected location in the Hoosier state. The company expects to create more than 850 new jobs across the state through 2012.

"Eight hundred fifty jobs of any kind is great news. When those jobs are in a technology of tomorrow, like electric cars, it offers the prospect of even bigger news to follow. Indiana has what it takes to lead this automotive revolution and today is step one," said Gov. Daniels.