(INDIANAPOLIS, IN) - Allison Transmission is expanding its global headquarters.
CEO Larry Dewey announced Tuesday that the company plans to manufacture a new transmission called the TC-10.
Dewey says they also plan to hire over 200 more employees within the next three years.
To make the expansion happen, the town of Speedway and the city of Indianapolis will work to reconfigure 10th street.
The reconfiguration will allow for more parking and a better commute for workers.
The Indiana Economic Development Commission will work with Speedway in applying for up to $5 million in federal highway funds from the Indiana Department of Transportation.
Governor Mitch Daniels was on hand and said announcements like this helped to make Indiana "the number one manufacturing state in America right now."
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