FREDERICKTOWN — Last September, FT Precision in Fredericktown was granted a $6,000,000 tax abatement by the Knox County Board of Commissioners. The request was for a planned expansion of the facilities of the automotive parts supplier.
“The expansion is coming along pretty much on schedule,’ said FTP executive vice president Zane Mathis. “They’ve started setting steel on the building and we’ve got all the footers in. The building is scheduled to be completed by about the first of July.”
According to Mathis, the new facility will be about 69,000 square feet. The total capital investment will be in the neighborhood of $82,000,000.
“This will be for the physical space and new equipment,” Mathis said. “We will be adding two new product lines. I can’t go into any great detail, but it will be component parts for the Honda automobiles. It’s pretty much the same kind of thing we have been doing. These will be for new model Hondas.”
When completed, the new production capacity will result in the addition of about 62 new jobs. Mathis said the hiring will be done directly by FTP sometime in the near future.