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Investment Highlights Tennessee’s Booming Auto Sector

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Investment Highlights Tennessee’s Booming Auto Sector

Faurecia Interior Systems, a leading supplier of automotive seating, interior systems, control panels, and emissions control systems recently announced plans for a new 145,000 square-foot facility in Spring Hill, Tennessee. The new facility will require an investment of over $30 million and is expected to create 143 new jobs for the production of door panel assemblies.

The company cited strong local partnerships, including the Tennessee Department of Economic and Community Development, and access to a stable workforce as factors in the decision. Faurecia has 300 global sites, including 30 research and development centers in 35 countries around the world.

Tennessee’s automotive sector has more than 135,000 workers across the state and features a diverse and growing collection of automotive companies that include Nissan, Denso, Volkswagen, and General Motors. Some of the key drivers of this growth have included significant tax subsidies in the form of property tax deferrals and grants for training new employees.

This southeastern region as a whole has also been resistant to the United Auto Workers (UAW) union, which is seen as a benefit to both vehicle makers and suppliers. Tennessee has produced over 830,000 new vehicles since 2016 and is home to the plant that has produced more new vehicles than any other U.S. plant during that time. The Nissan facility in Smyrna has put more than 645,000 new vehicles on the road over the past 2-1/2 years.

 

Image Credit: Faurecia/http://www.faurecia.com/en/about-us

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