Chrysler invests in Kokomo casting plant for Phoenix engines

According to the Kokomo Tribune, Chrysler will invest $68 million in the Kokomo Casting Plant to make engine blocks for Chrysler’s new Phoenix six-cylinder engine and parts for the automated manual transmissions to be built in Tipton County. The Kokomo Common Council is considering a tax abatement on the new equipment on Monday; even with the tax breaks, around $2.76 million would be added to local tax revenue over ten years. (Thanks, KCP Worker.)