MONTGOMERY – Governor Bob Riley and officials from the Montgomery area announced Friday that Korean-based Hyundai Heavy Industries will locate its first American manufacturing facility in Montgomery, creating 480 new jobs and a capital investment of $90 million.
The facility will be located on 100 acres at Interstate Industrial Park, located off I-65 at U.S. 31, and will manufacture large power transformers.
The HHI facility in Montgomery will be known as Hyundai Electrical Systems Alabama, Inc. A groundbreaking is expected to take place later this month, with construction complete by the end of 2011, and production beginning in early 2012.
"We're seeing positive signs that our economy is rebounding, and this announcement of almost 500 new jobs is certainly one of those signs," said Governor Riley. "When you combine Alabama's outstanding workforce with the great economic development team we have at the state and local levels, you're able to recruit world-class companies like Hyundai Heavy Industries. This truly is a team effort, and our Alabama team is proud to welcome HHI."
Montgomery is riding a wave of good economic news, with today's announcement following the recent recruitment of two new corporate headquarters operations and more than 120 jobs to the capital city, "We are on a roll in Montgomery, and our economic development team has hit a homerun again with this announcement," said Montgomery County Commission Chairman Elton Dean. "This is a win for HHI, and a win for the Montgomery area. Those 480 new jobs will mean so much to our community."
Founded in 1972, Hyundai Heavy Industries (HHI) is a global business network operating in six business divisions: Shipbuilding, Offshore and Engineering, Industrial Plant and Engineering, Engine and Machinery, Construction Equipment and Electro Electric Systems.
Montgomery was a finalist among several cities in four southern states. The state, county and city worked together to provide a competitive incentive package for the company, and it was that spirit of cooperation and collaboration which ultimately put Montgomery over the top.
Montgomery Mayor Todd Strange reached out to the city of Prattville, Elmore County and the City of Greenville and asked for their commitment and investment.
"We would personally like to thank HHI for the confidence they have placed in us by locating their plant here," said Montgomery Mayor Todd Strange. "We look forward to a great relationship with them while they expand their market in the US. Without the support and assistance of Greenville, Prattville and Elmore County – as well as everyone involved in this process – I'm not sure we'd be here today."
According to Montgomery Area Chamber of Commerce Chairman Nim Frazer, "The people of Montgomery and the River Region are the real secret to our success – the men and women of our workforce, and the elected leadership that works tirelessly without caring who gets the credit.
We have so much to offer the global business community, but it is that spirit of cooperation that continues to raise all boats in the River Region," said Frazer.