Magneti Marelli, a automotive systems and components supplier that produces shock absorbers and exhaust systems in Pulaski, Tenn., is investing $53.7 million to expand manufacturing plant. The Italian-based firm plans to add a lighting division which will create 800 jobs in Giles County.
"Congratulations to Magneti Marelli on this announcement," Gov. Bill Haslam said. "Our Jobs4TN economic development strategy includes strong emphasis on several industry clusters, such as the automotive industry, in which the state holds a distinct competitive advantage and on expanding existing Tennessee businesses. The addition of this lighting operation to the Pulaski site is welcome news to Giles County and the state." Details of a tax incentive package based on job creation were not immediately available.
"This is great news for Pulaski, and I am grateful to the company for their continued confidence in our state," Community Development Commissioner Bill Hagerty said. "This announcement is a testament to the exceptional workforce in Pulaski and the surrounding areas, and the creation of these new jobs will have a large impact on the residents of this area. With the strongest balance sheet in the United States, Tennessee stands out to global companies like Magneti Marelli who undertake a worldwide review in determining where to locate and expand their operation."
The company said along with manufacturing sites in Juarez and Tepotzotlan, Mexico, the Pulaski operation at 181 Bennett Drive will round out its lighting division. The Magneti Marelli's lighting division is one of the world leaders in the automotive lighting sector, having supplied about 20 million headlamps and about 22 million rear lamps to global carmakers in 2011.
"What a wonderful day in Pulaski," Mayor Pat Ford said. "Magneti Marelli's announcement has to be the biggest economic development project in the history of Pulaski and the jobs that will be created are sorely needed. Magneti Marelli is already is a valued member of our industrial family and I know the lighting division will be successful in our community."