The Greencastle City Council approved $27,000 in tax abatements for Chiyoda USA at their Tuesday-night meeting.
The unanimous vote means a seven-year abatement on approximately $660,000 worth of new equipment that the company plans to install over the next year.
Bringing the company's request to the council, Bill Dory said Chiyoda is hoping to attract more customers and thereby expand its Greencastle facility by adding three new molding machines.
One of the machines, a blow molding machine, is an up and coming form of molding in the auto industry, Dory said, and Chiyoda officials are hoping to capitalize on the market to ensure future growth of the Greencastle plant.
Council members expressed their support for the abatement, saying they hoped it would bring new jobs to the city. They voted 5-0 to approve the resolution.