Rolls-Royce announced plans Monday to invest nearly $600 million in its Indianapolis operations and research over the next five years.
Rolls-Royce's investment is the company's largest in the U.S. since buying former Allison Engine Company in 1995. The money will be used to modernize and upgrade the company's Indianapolis operations.
Some of the equipment in the building dates back to World War II.
Rolls-Royce employs about 4,000 people at its Indianapolis location.
According to the Indianapolis Business Journal the facility upgrades are not expected to create jobs. Legislators however, tweaked the law so the company would qualify for state incentives:
On Monday, the Indiana Economic Development Corp. said that it has offered up to $17 million in tax credits and up to $1.42 million in training grants based on the company's planned investment.
Rolls-Royce builds aircraft engines at its Indianapolis facility.