Port San Antonio green lights Indo-MIM $24M investment

SAN ANTONIO – San Antonio City Council gave Indo-MIM the
green light to move forward with its multimillion-dollar plan to establish U.S.
operations at Port San Antonio.

That green light from the city also included a $500,000
economic development program grant and a 100 percent abatement on property
taxes for a ten-year period.

Indo-MIM plans to invest roughly $24 million for Port San
Antonio.

The Indian firm, which produces precision component parts
for clients in multiple industries, including the biotech and aerospace
industries, plans to establish its first U.S. manufacturing facility in a
58,000-sf structure at the port in 2016.

It is expected to employ 100 local workers within its first
year of operations in the Alamo City and grow that employment figure north of 300
personnel within five years.

With those deals in place, Port San Antonio
President and CEO Roland Mower is expected to negotiate a 20-year lease with
Indo-MIM.