Spain-based Ficosa North America will expand its presence in The Volunteer State by building a new state-of-the-art facility at the Highlands Business Park in Cookeville, Tennessee. The automotive supplier will invest $58 million in the Putnam County facility and create 550 jobs.

“This is a strategic move that will allow the consolidation of key operations and enable further future growth,” Ficosa’s Global Chief Executive Javier Pujol said. “This new state of the art facility will not only allow us to better serve our customers but also provide a better and more secure future for our Tennessee employees.”

The pre-production of the new facility is already underway and Ficosa will begin limited production from the new factory in mid-2016. Ficosa’s existing Tennessee plant in nearby Crossville produces mirror assemblies for Nissan, Ford, Volkswagen, Fiat Chrysler, General Motors and other auto manufacturers. The company will transfer the existing jobs to the new Cookeville facility, which will increase production capacity and allow components currently made in China and Mexico to be made in Tennessee.

“We want to thank Ficosa for further investing in Tennessee and for creating 550 new jobs in the Upper Cumberland area,” Governor Bill Haslam said. “With more than 900 auto suppliers and manufacturers, our state is known worldwide for its strengths and momentum in the automotive sector which help us move closer to achieving our goal of becoming the No.1 state in the Southeast for high quality jobs.”

“We aim to be the most aligned state in economic development from the state level to the local level to our educational partners, and today’s announcement demonstrates just what teamwork can accomplish,” Economic and Community Development Commissioner Randy Boyd said. “Thank you to Ficosa for choosing to grow in Tennessee and for trusting in our dedicated workforce and sound business climate.”

“This project took longer than most, and I can’t speak highly enough of the cooperation and teamwork exhibited by all parties involved,” Cookeville Mayor Ricky Shelton said. “Ficosa will be the first company location in our Highlands Business Park and fits the bill to innovate, elevate and accelerate. Their location benefits our economy regionally, and we are proud to welcome them to our community.”

“We are extremely excited Ficosa has chosen Putnam County for its new expansion,” Putnam County Executive Randy Porter said. “They are a perfect fit for our new Highlands Business Park and our County looks forward to a long lasting relationship with them.”