Hyundai Construction Equipment Americas Inc. has announced it will invest $10 million in the relocation of its North and South American headquarters from suburban Chicago, IL, to Norcross, GA. The project, expected to be operational by third quarter 2011, will create 100 jobs in Gwinnett County over the next five years.
HCE operates under its parent company, South Korea-based Hyundai Heavy Industries Co., Ltd. The company was formed in 1991 to focus on the needs of Hyundai's construction equipment market. HCE manufactures a variety of excavators, forestry machines, and wheel loaders.
The new Norcross campus will house the firm's headquarters, a warehouse, and office space for its finance, sales, remanufacturing and service operations. "Given that this is the headquarters of the Americas, we needed a location that was strategically located not only for access to markets in the Southeastern United States but South and Central America as well," said John Lim, president of Hyundai Construction Equipment Americas. "Georgia, Gwinnett County and the City of Norcross will be ideal as we grow our business for the future." Company officials also said they chose Norcross due in large part to its access to major highways (and other logistics benefits) and extensive talent pipeline.
The state gave Hyundai nearly $2 million in incentives; including a $625,000 job tax credit, a $625,000 port tax credit, and tax exemptions worth between $120,000 and $600,000.
Norcross Mayor Bucky Johnson said "the expansion of this well-respected international company will be an excellent fit for the location and provide access to a talented work force."