Yamaha Propellers receives tax incentive to expand

Yamaha Marine Precision Propellers in the US has received two 10-year tax abatements from the city of Greenfield, Indiana to facilitate an expansion by the company with a new 50,000sq ft plant at a cost of US$18.3m and bringing 81 jobs.

Yamaha intends to move part of its existing operation from Indianapolis, Indiana, to Greenfield, breaking ground in early June, according to the Greenfield Daily Reporter. The new building is expected to be completed in late 2019 with operations beginning in mid-2020.

The Greenfield Redevelopment Commission and City Council both approved the abatements last week after hearing from the company that of the 81 expected jobs at the facility, 18 would be newly created and filled with new hires. The 28-acre parcel of land would allow for future expansion.

Yamaha Precision Propellers designs and manufactures 300 different styles of stainless steel propellers for Yamaha outboards as well as impellers for its watercraft engines.