A symbolic groundbreaking and welcoming speeches inaugurated TICO's $350-million investment in the Valentine Industrial Park in Pendergrass.
The plant will produce automotive compressor parts and eventually hire around from 320 employees.
According to TICO Managing director Masaharu Suzuki the plant will give the company a stronger American market share and instead of U.S. imports from Japan, compressor parts made at the Pendergrass plant could be exported to Japan and sold domestically to American car manufacturers.
"Our market share in the United States is almost 50 percent," Suzuki said. "We will raise that to 60 percent by 2020. We are making compressors that are useful for saving gas.For the future it's possible to export to Japan due to the exchange ratio.The possibility is increasing."
The Pendergrass plant is actually an addition to an existing Toyota plant, as Governor Deal pointed out.
"Today is an example of the other kind of expansion that we want to see," the Governor observed. "That is companion industries, associated with existing manufacturers who have decided that Georgia is the best place to be."
The new plant, expected to begin production by next year, will manufacture the main parts of automotive compressors currently imported from Japan and assembled at the existing plant. It will allow the parts once manufactured in Japan to be entirely produced in Georgia.
That's good news for Jackson County's economy according to Commission Chairman Hunter Bicknell.
"This is going to be tremendous," Bicknell said. "It's a huge financial investment on their part with a great number of very good high paying jobs."
Bicknell added that Toyota's expansion and new plant could attract additional high quality industrial prospects to Jackson County.
The new plant, expected to begin production by next year, will manufacture the main parts of automotive compressors currently imported from Japan
Gov. Deal views new plant drawing
According to TICO Managing director Masaharu Suzuki the plant will give the company a stronger American market share
Compressor parts made at the Pendergrass plant could be exported to Japan and sold domestically to American car manufacturers
http://accesswdun.com/article/2012/6/249777