Automotive parts supplier LMV Automotive Systems will invest $48.7 million to expand its Liberty, Missouri, production facility. This second major expansion by LMV in two years is expected to create an additional 166 new jobs.
LMV Automotive is a subsidiary of Cosma International, a Canadian-based Magna company and world’s fourth-largest supplier of auto parts. In June 2012, LMV broke ground on a $42 million assembly facility in Liberty. The facility, which will supply parts to be used in the new Transit van being built at the Ford Motor Co. Kansas City Assembly Plant in Claycomo, will employ 156 workers. LMV’s expansion will add a new 256,600 square-foot facility and create an additional 166 new jobs. Operations of the first facility and construction of the second facility are expected to begin this summer.
Governor Jay Nixon said, “The decision by this industry leader to double-down on its investment in the Show-Me State marks another major milestone in Missouri’s auto manufacturing comeback. With proven, pro-growth policies and smart investments, we will continue creating good jobs for Missouri families and moving our economy forward.”
“We continue to gain significant momentum in economic development and job creation in Liberty,” said Mayor Lyndell Brenton. “Less than two years after breaking ground for a 213,000 square foot facility in Liberty, LMV Automotive is proving that Liberty is an ideal and welcoming community for businesses with this expansion announcement. Although they have yet to reach full production in the original facility, this 250,000 square foot expansion not only represents an additional $49 million investment in our community but also will bring another 166 new, good paying jobs to Liberty.”
To assist LMV Automotive Systems with its expansion, the Missouri Department of Economic Development has offered a strategic economic incentive package that the company can receive if it meets strict job creation and investment criteria.