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Area Development - Site Selection, Facility Planning and Workforce Development

Korea-Based LT Precision Plans Holland, Michigan, Headquarters

03/07/2024
LT Precision Michigan, a subsidiary of the Korea-based LT Precision Co., LTD, plans to establish manufacturing operations in Holland, Michigan. The $43.2 million project is expected to create 70 jobs.

The company’s new North American headquarters, located at 1776 Airport Court, will produce battery cooling plates for electric vehicle manufacturers in the U.S.

“LT Precision’s new North American headquarters in Holland will create 70 good-paying jobs and keep bringing the advanced manufacturing supply chain home to Michigan,” said Gretchen Governor Whitmer. “This investment will build on our strength as the destination for growing companies in the battery and future mobility sectors. Let’s continue going everywhere and working with anyone to win projects and create high-skill, family sustaining jobs across Michigan.”

The project is being supported by a $700,000 performance-based grant from the Michigan Business Development Program. In addition, the city of Holland has offered a property tax abatement in support of the project.

"The region's advanced energy storage cluster continues to grow and thrive,” noted Jennifer Owens, president of Lakeshore Advantage. “LT Precision’s decision to invest in West Michigan’s lakeshore region is a well-earned vote of confidence in our capabilities, talent pool, and business environment. Having LT Precision join our ecosystem will not only create good jobs and investment, but also enhance our cluster's innovation, productivity, and competitiveness. We look forward to welcoming LT Precision to the community.”

LT Precision Co., produces components and machinery for both electric and conventional vehicle markets. The company designs, develops, and manufactures machinery parts, molds, welding and assembly machinery, and fixtures for Tier 1 and Original Equipment Manufacturer (OEM) automotive companies.

“The new facility is a great example of the economic spin-off created from existing manufacturers making business-to-business transactions,” City of Holland Director of Community and Neighborhood Services Mark Meyers added. “The capital investment, and more importantly job creation, is significant.”

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