Indiana is pulling in some of the largest capital commitments in its manufacturing history — and simultaneously fighting over the cost of the electricity powering those facilities in a federal courtroom. Five developments across Bartholomew, Marion, Boone, and Spencer Counties landed this week, and at least two of them will show up on your rate schedule within 24 months whether or not you're paying attention now.

Toyota Opens Its $100M Columbus Electric Forklift Factory — and the Competitive Window for Suppliers Is Already Open

Toyota Material Handling North America officially cut the ribbon on its new 295,000-square-foot Columbus factory on August 5th. The $100 million investment adds 140 jobs and brings the total campus to 1.9 million square feet with more than 2,100 employees.

The ribbon cutting is one leg of a coordinated $150 million-plus network realignment. TMHNA simultaneously invested $50 million across its Greene, New York and Muscatine, Iowa plants as part of the merger of Toyota Material Handling and The Raymond Corporation. Columbus is now the high-volume electrification engine. Greene pivots to automation and robotics. The electric forklift market is already approximately 70% electric and is projected to reach 80% before 2035, per TMHNA's own public statements.

What this means for Indiana C&I: The competitive pressure on TMHNA is immediate. Mitsubishi Logisnext launched a competing electric Class I counterbalance series in November 2025 — the exact product category rolling off the Columbus line. BYD and Hangcha are pressing on price through vertically integrated battery supply chains. TMHNA is countering with domestic manufacturing efficiency, which means the Columbus campus will be running hard.

If you're a Tier 1 or Tier 2 supplier of motors, lithium-ion packs, or charging infrastructure in the Columbus area, the qualification window is open right now. Don't wait for a formal RFQ to find out you're behind.

Comlux Indianapolis Expansion Adds $22M and Up to 375 Jobs — With an Unanswered Question About Incentives

Comlux America, the aircraft completion and maintenance center at Indianapolis International Airport, announced a $22 million-plus expansion on August 6th, targeting up to 375 high-wage jobs by end of 2030.

The expansion adds hangar space and advanced tooling for VIP narrowbody and widebody aircraft completions. What the press release doesn't clarify: In October 2025, Comlux announced eight new narrowbody bays by end of 2026. The August 6th release doesn't specify whether the $22 million funds that already-announced second phase or a new third investment tranche. That ambiguity matters because Comlux carries a 28-aircraft backlog — including six A220 completions for Magnifica Air, each running approximately 18 months. If Magnifica's FAA Part 121 certification slips, Comlux faces hangar-slot revenue risk and potential backlog re-sequencing that $22 million in new capex doesn't solve.

Also notable: no state incentive package has been disclosed. On a 375-job, $22 million commitment, the absence of any IEDC disclosure is worth tracking. Watch for an IEDC agenda item or a FOIA filing in coming weeks.

The Indiana Coal Fight Is in Federal Court — and the Capacity Costs Are Already Building on Your Bill

This story keeps developing. We first covered the Rockport coal situation in July when Indiana Michigan Power filed with the IURC for a 1,520-megawatt combined-cycle gas plant at the same Rockport site. This week's new development is a federal court filing.

On July 31st, Attorney General Todd Rokita filed a motion in Ohio federal district court to intervene in the 2007 consent decree governing the shutdown of I&M's Rockport Unit 1 — a plant whose owner, American Electric Power, agreed in 2019 to close it by 2028. Governor Braun issued an executive order the same day to halt coal plant closures statewide. Sierra Club senior attorney Tony Mendoza called Rokita's filing "really late," noting I&M has already filed to build the replacement gas plant and signed a demand-response agreement with Google for its Fort Wayne data center.

Here's the contradiction at the center of this story: Rokita is trying to keep open a plant whose own owner is simultaneously planning its replacement. The state's grid reliability argument is undercut by I&M's own IURC filings.

For Indiana manufacturers, the cost pressure is already building regardless of how the court fight lands. PJM's 2025-26 base residual auction cleared roughly $14.7 billion compared to $2.2 billion in the prior auction — a $12.5 billion swing, per the Independent Market Monitor. For Indiana industrial customers on I&M or AEP tariffs, that flows through capacity cost trackers on a lag, typically hitting rate schedules over the next 12 to 24 months depending on your tariff class.

The political fight is secondary. Run two scenarios now — a 5% and a 15% all-in delivered electricity cost increase over three years — and see which capital or hedging decisions flip before the IURC proceeding forces the question.

Questions for Your Morning Huddle

Q: How does the PJM capacity auction affect what Indiana manufacturers pay for electricity?

A: PJM's capacity auction sets the price generators receive for committing to be available during peak demand. That cost is recovered from load-serving entities — including the utilities serving Indiana manufacturers — and flows through capacity cost trackers on your rate schedule, typically with a 12-to-24-month lag. The 2025-26 auction cleared at roughly $14.7 billion, compared to $2.2 billion the prior year, meaning a significant cost increase is already in the pipeline for I&M and AEP industrial customers in Indiana.

Q: What is a capacity cost tracker and when does it hit my rate schedule?

A: A capacity cost tracker is a rider or adjustment clause on your utility bill that passes through the utility's cost of securing generation capacity in the wholesale market. It is separate from your energy (kWh) and demand (kW) charges. When PJM capacity prices spike — as they did in the 2025-26 auction — that increase works its way into the tracker and shows up on your bill on a regulatory lag, often 12 to 24 months after the auction clears.

Q: Should Indiana manufacturers be worried about the Rockport coal plant fight?

A: The political and legal fight over Rockport Unit 1 matters less to your bill than the capacity cost spike already recorded at PJM. Whether the plant stays open or closes, the replacement generation capacity has to be procured and paid for — and that cost flows to ratepayers. Run a 5% and 15% all-in electricity cost increase scenario over three years now, before IURC proceedings force the question under time pressure.

Q: What does Toyota's Columbus electric forklift factory mean for Indiana suppliers?

A: The Columbus campus is now TMHNA's high-volume electrification hub for a market that is already approximately 70% electric and trending higher. With competitive pressure from Mitsubishi Logisnext, BYD, and Hangcha, TMHNA needs its domestic supply chain qualified and running efficiently. If you supply motors, lithium-ion packs, or charging infrastructure in Central Indiana, the qualification window is open now — waiting for a formal RFQ puts you behind.

For context on how capacity costs and fuel adjustment charges show up on your bill, see Fuel Adjustment Charges: What Indiana C&I Operators Need to Know About This Line Item on Your Electric Bill and Indiana Utility Rate Changes 2026: Five Developments Hitting Manufacturer Cost Exposure Now.