Chrysler to boost stake in Kokomo
Eight-speed transmission plant planned as company expands investment
Freep.com is reporting Chrysler is making an additional investment in its Kokomo, IN transmission plant. The automaker plans to build an eight-speed transmission at their plant, adding an $85 million investment to the $1.2 million Chrysler will spend in Kokomo to build a front-wheel drive transmission.
Chrysler will receive a tax abatement, approved this week by the Kokomo City Council, on the investment for that part of the facility, according to the report.
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Annual Salary Survey
In a year when manufacturing continued to lead the economic rebound, it makes sense that plant manager bonuses rebounded. Plant Engineering’s annual Salary Survey shows both wages and bonuses rose in 2012 after a retreat the year before.
Average salary across all job titles for plant floor management rose 3.5% to $95,446, and bonus compensation jumped to $15,162, a 4.2% increase from the 2010 level and double the 2011 total, which showed a sharp drop in bonus.