Port San Antonio green lights Indo-MIM $24M investmentPort San Antonio green lights Indo-MIM $24M investmenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=111822015-11-17T06:00:00Z2015-11-17T18:00:00Z

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.
San Antonio Business Journal
San Antonio-New Braunfels

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