Missouri Economic Development Incentives for Automobile Supplier Expanding in Mexico, MO
Thursday, September 04, 2014
Article by Economic Development Blog
St. Louis, MO-based automotive supplier Spartan Light Metal Products broke ground on an expansion of their operations in Audrain County, MO.
The expansion project of their facility in Mexico, MO is supported by a package of Missouri economic development incentives tied to the company’s plans to create 88 new jobs and invest $17 million.
The facility in Mexico, MO already has a workforce of 300 employees. The new investment will be used for retooling and purchasing new equipment.
The company also plans to add another 68,000 square feet of space to the facility, out of which 58,000 square feet will be dedicated to manufacturing new engine components for Toyota vehicles.
Missouri Department of Economic Development Director Mike Downing said he’s proud to see more and more auto companies investing in the Show-Me State and benefiting from the competitive environment and highly skilled workforce that helps them succeed and grow.
Ted Waltemate, Spartan’s VP of Operations in Mexico, said they are excited to be expanding the facility in the City of Mexico, which he said would allow them to increase capacity and support the growing needs of their customers.
Spartan Light Metal Products is a family owned business founded in 1961. The company is now an industry leader in light metal engineering including aluminum and magnesium custom die casting. They provide auto parts to major automotive manufacturers including Toyota, Honda, GM, Ford and Volkswagen.
Spartan and other automotive suppliers in Missouri such as Toyota Bodine, Yanfeng USA Automotive Trim Systems and Grupo Antolin North America are following the lead of the vehicle manufacturers with expansions and job creation. Ford and GM have invested $1.5 billion and created thousands of jobs at facilities in Claycomo and Wentzville.
This latest $17 million investment is Spartan’s second major expansion of the Mexico facility in the last two years. Back in March 2012, the company announced plans for a $12.5 million expansion to add two new production lines and create 42 new jobs.
For the 2012 expansion, the Missouri Department of Economic Development provided the company $303,381 in Enhanced Enterprise Zone tax credits tied to their jobs creation and investment plans.
Apart from this facility in Mexico, Spartan also has additional manufacturing plants in Hannibal, MO and Sparta, IL. They also have technical offices spread across Detroit, Tokyo and Landstuhl in Germany.