Indiana Secretary of Commerce Nathan Feltman said he sealed a deal in Japan Thursday morning with senior Sony Corp. executives for a $113 million expansion of its Blu-ray Disc manufacturing operations in Terre Haute.
Calling from Tokyo, Feltman, who also is CEO of the Indiana Economic Development Corp. and is leading Indiana's fourth trade mission in Gov. Mitch Daniels' absence, due to state flooding problems, said the Sony deal is one more success for the state that has delivered nearly $1.5 billion in Japanese investment dollars to Hoosiers.
"Sony's decision to expand its operations in Indiana is more hard evidence that our international roadwork is a good investment and is a solid step toward creating more jobs for Hoosiers," Feltman said.
Currently, Japanese businesses in Indiana have provided 5,500 new jobs. The Sony expansion is expected to create at least 85 more jobs at the Terre Haute facility, which now employs about 1,180 associates.
The southern Indiana Blu-ray Disc manufacturing facility is the only one in the United States.
On Wednesday, Feltman said he and others in the delegation visited Nippon Steel Corp.
"We wanted to call on Nippon because we had not in past missions. We wanted to let them know how much we appreciate them," Feltman said.
About two months ago, Nippon and ArcelorMittal announced a $240 million expansion of its galvanized steel production at their I/N Kote joint venture in New Carlisle.
On Thursday, Feltman said, "They know Indiana very well." The Nippon executives said they see Indiana as a very competitive state with an overall low tax burden, he said.
Feltman said he learned that, often, when Indiana reaches out to companies around the world, international companies in Indiana can feel the effects.
"We provide customer opportunities for them," Feltman said, explaining that Nippon at New Carlisle, for example, produces the steel sheets used to make the Camry in West Lafayette and the Honda Civic in Greensburg.
Sony and Nippon are two of more than 20 companies with whom Feltman and the six-member Indiana delegation plan to meet on the six-day trade mission, which began Monday.
