JTEKT Automotive Plans $102 Million South Carolina Expansion
The auto components manufacturer will construct its new building near the company's existing facility, at 1866 Old Grove Road in Piedmont, South Carolina. The new addition will increase JTEKT's driveline component capacity and flexibility.
"We are excited about expanding our manufacturing operation in Greenville County, said Katsuhiko "Ike" Ishikawa, president of JTEKT Automotive South Carolina. "The South Carolina facility will give us the opportunity to expand our product line and reach new customers as well as grow our overall production capacity and operations. This is an important step in the life of our company."
"It's another great day in South Carolina when one of our existing businesses chooses to increase its footprint here. We celebrate JTEKT Automotive's decision to invest $102 million and create 80 new jobs in Piedmont with this expansion," said Gov. Nikki Haley.
"With announcements like this, we see South Carolina's manufacturing renaissance continuing to gain steam. We also see our reputation in the automotive club grow. We appreciate JTEKT Automotive's confidence in South Carolina as the right place to make new products," said Secretary of Commerce Bobby Hitt.
"JTEKT is a world leader in the automotive industry, and had no shortage of options of where to place this investment and new positions, so we're delighted that they have selected Greenville County," said Chris Riley, chairman of the Greenville Area Development Corporation. "
While information about incentives that sparked JTEKT's expansion was not immediately available, South Carolina offers job development tax credits based on a firm's hiring new workers. Firms are awarded rebates a portion of new employees' withholding taxes to address the specific needs of individual companies. The state also offers an Economic Development Set-Aside Program to assist companies in locating or expanding through road or site improvements. The program provides funding or tax abatements to offset costs related to business location or expansion.
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