China-based Yanfeng USA Automotive Trim Systems Plans $45 million investment In Riverside, Missouri
The company's Riverside plant will manufacture interior trim components, including door panels, floor consoles and instrument panels, for General Motors' plants in Wentzville, Missouri and Fairfax, Kansas. Construction on the 258,000 square-foot facility is expected to begin in the next month, and the plant is expected to be operational in early 2014.
"Yanfeng USA is pleased to expand its U.S. manufacturing presence with our planned new facility in Missouri," said David Wang, President of Yanfeng USA. "Missouri offers Yanfeng USA an excellent business climate from which to serve our automotive customers, and we are excited to join the state's strong community of automotive companies. We appreciate the support and assistance from the state of Missouri, the Kansas City region, and the City of Riverside throughout our year-long process of selecting a new location for this facility."
"The historic expansions by Ford and General Motors during 2011 have transformed Missouri's economy, putting our state on the map as the leader of the rebirth of the American auto industry," Gov. Jay Nixon said. "That momentum continues as we once again expand our network of automotive supply manufacturers in Missouri. Yanfeng's decision to build a new production facility in Riverside and create 263 new manufacturing jobs is more excellent news for our state's automotive industry sector and economy as a whole."
The Governor’s Office said the state helped make Yanfeng USA's expansion in Riverside possible through a strategic package of economic incentives, which the company can redeem if it meets the strict job creation and investment criteria.
"Yanfeng is precisely the type of long-term, job-creating employer we want to attract to our Horizons development, not from across town or the state line, but from around the country and world," said Kathy Rose, Mayor of Riverside. "We are honored that a Chinese manufacturer has chosen Riverside to be part of its global-sourcing business strategy. With this announcement, we believe our 260-acre industrial innovations and office development is just starting to provide the economic boost that we expect to contribute to Missouri and the entire Kansas City area."
What’s Driving Record Industrial Real Estate Demand
2020 Top States for Doing Business Showcase Their Pro-Business Environments
17th Annual Consultants Survey: Consultants Are Optimistic About the Year Ahead
2020 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Regional Report: Southeast Ports Expand Capacity
Trends in Office and Industrial Parks