Daechang Seat Corp., the renowned South Korean auto seat frame manufacturer, has revealed a strategic blueprint to invest $72.5 million, in establishing an advanced factory in Savannah. This investment promises not just economic infusion but also the creation of over 500 jobs, amplifying regional growth.
This decision situates Daechang as the latest in a series of companies manifesting their commitment to support Hyundai’s monumental $7.6 billion electric vehicle and battery assembly plant situated in Ellabell, near Savannah. A project imbued with grand aspirations, Hyundai’s facility has been foreseen to burgeon, employing around 8,500 individuals and envisaging commencement of production activities as promptly as 2024.
Considering collective endeavors, suppliers aligning with Hyundai’s vision have magnanimously pledged investments nearing a staggering $2.3 billion, with employment opportunities projected to benefit nearly 5,800 individuals.
Daechang is no stranger to US soil, with a notable presence through a factory in Phenix City, Alabama, since 2019. Demonstrating a trajectory of sustained growth, the company has also announced an ambitious $23.4 million expansion in Alabama, further solidifying its operational base.
Beyond borders, Daechang’s operational network is impressive, with a vibrant workforce of over 5,000 spanning seven countries. A spokesperson illuminated the company’s vision, highlighting their earnest objective to propel DSC’s growth through strategic expansions, fostering its evolution into a formidable global entity.
The state extends its support through pivotal initiatives, including funding for workforce training, coupled with attractive incentives such as potential qualification for $10 million in state income tax credits and substantial property tax reductions, thereby nurturing a conducive environment for industrial growth and economic prosperity.
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