Gov. Mitch Daniels joined executives from Busche Enterprise Division Inc., a computer numerical control (CNC) production machining firm, today to announce the company’s plans to expand its operations here, creating up to 120 new jobs by 2015.

The Albion-based company, which is known for the machining and assembly of complex castings and forgings for the durable goods and automotive industries, will invest $17.4 million to purchase, expand and equip a 36,000 square-foot facility one mile west of its main campus and headquarters in Albion. Construction to expand the building by an additional 24,000 square feet will begin this fall and the new manufacturing plant is expected to be operational early next year.

“Creating a climate that allows successful, growing manufacturing companies like Busche expand in Indiana is our number one priority,” said Daniels. “We have worked hard to make Indiana the most attractive state for business in the country. Busche will benefit from our strong infrastructure, skilled workforce and business-friendly policies.”

Over the weekend, The Wall Street Journal reported that “the results of Indiana’s efforts to attract manufacturing jobs are encouraging so far. The number of (Hoosiers) employed in manufacturing at the end of 2011 was up 7.6 percent from two years before to 472,500, compared with a 3 percent rise nationally, after plunging during the recession.”

Busche, which currently employs more than 550 Hoosiers, launched in 1997 out of a vacant facility on Albion’s courthouse square, with one employee – founder Nick A. Busche. The company has since added more than 400,000 square feet of production and warehouse space with seven manufacturing facilities and produced nearly $100 million in sales in 2011.

“The state of Indiana and the local economic development folks have shown a willingness to do what is necessary to attract businesses to our state,” said Nick A. Busche, chief executive officer and president of Busche. “The recent passage of the right-to-work law was just another example of the strong commitment by this state to promote growth and job creation. Indiana offers an enthusiastic business climate and a great workforce. We believe manufacturers in Indiana can rely on Governor Daniels and his staff to support our efforts and investments.”

Busche, which serves Original Equipment Manufacturers and other customers worldwide, will begin hiring experienced CNC operators and individuals wishing to be trained and start careers as CNC operators, along with support positions this summer.

The Indiana Economic Development Corporation offered Busche Enterprise Division, Inc. up to $600,000 in conditional tax credits and up to $150,000 in training grants based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. Noble County will consider additional property tax abatement at the request of the Noble County Economic Development Corporation

“On behalf of the town of Albion, I would like to congratulate Busche on their expansion,” said Beth Shellman, Albion town manager. “The Albion Town Council wishes Busche continued success in their future endeavors.”