Toyota Industrial Equipment Manufacturing has received a tax abatement on an estimated $3 million in personal property that will enhance development, design and testing for future forklift models.
The Columbus City Council voted Tuesday to approve the 10-year abatement, which involves new research and development equipment to test new forklift product designs to be installed at the Toyota complex six miles south of Columbus at 5555 Inwood Drive.
Tony Miller, senior vice president at TIEM, told council members the abatement would also involve replacing and modernizing equipment for the current front protector assembly line.
The improvements at the plant will include adding five new engineering positions, with total estimated salaries of $375,000, each position paying about $75,000, the company’s application stated.
Toyota employs 1,163 people, the application states, 1,056 who are TIEM employees and 107 that are employed by an outside firm used for staffing needs.
For more on this story, see Thursday’s Republic.