A manufacturer of vehicle steering systems, Thyssenkrupp Presta North America (which does business as Thyssenkrupp Steering), will spend $7M to create a new technology center at Exit Five Parkway in Fishers.

The new 37K SF facility will house employees who will transfer from Allison Pointe in Indianapolis. Also, according to Thyssenkrupp Steering, 64 new positions will be added at the new facility by 2020.

The steering company is a subsidiary of the $48B global industrial group Thyssenkrupp (also known for its elevators), and already has a factory in Terre Haute and a sales and technical office in Troy, Michigan. Thyssenkrupp employs more than 500 workers in Indiana.

The tech center will be fully operational by the spring of 2018. Thyssenkrupp Steering plans to use the new facility for technology development.

"[Fishers] is an ideal location to help us recruit the top talent we need to serve our customers in the automotive industry,” Thyssenkrupp Steering CEO Richard Hirschmann said in a statement.

The Indiana Economic Development Corp. offered Thyssenkrupp as much as $950K in conditional tax credits and $200K in training grants based on the company’s job-creation plans.

The incentives cannot be claimed until workers are hired. Fishers is also considering providing incentives to the company.