New Development coming to Indiana's Northern Region
by Lori Snyder on 5/31/2018 in indiana, development, elkhart county, st. joseph county
Just one more exciting new development that is coming to the Northern Region of Indiana.
Indiana’s reputation continues to prove it is a financially sound State for businesses around the world. We are no longer that “Fly over State” thanks to our Governor, our State and Local Economic Development Corps. and all those Diverse Entrepreneurs from Elkhart and St. Joe County.
California-Based Electric Vehicle Company to Establish Manufacturing Operations in the South Bend – Elkhart Region
MISHAWAKA, Ind. (May. 30, 2018) — Governor Eric J. Holcomb and St. Joseph County officials joined executives from SF Motors, a global intelligent electric vehicle (EV) company that aims to accelerate the growth of the EV industry at large, today as the company announced plans to establish manufacturing operations here, acquiring AM General’s commercial plant in Mishawaka with plans to create up to 467 new jobs by 2020. As part of SF Motors’ job creation plans, the company intends to hire many of displaced workers from the manufacturing facility formerly-owned by AM General.
“Indiana’s reputation as a destination for business continues to be heard across the U.S. and around the world, attracting companies like SF Motors,” Gov. Holcomb said. “With a world of options, we’re thrilled SF Motors chose to expand in Indiana. We look forward to witnessing their continued success in Indiana as they develop 21st-century solutions with the help of our talented Hoosier workforce.”
SF Motors will invest more than $160 million, including the acquisition, to renovate and equip a 675,500-square-foot manufacturing facility, which served as the former AM General commercial assembly plant at 12900 McKinley Highway in Mishawaka. The vacant facility, which was acquired by SF Motors in November, will be equipped to manufacture at least two lines of its first EV models and serve as the company’s primary U.S.-based manufacturing plant. The 35-acre campus will feature advanced automation and house the company’s body and paint shop, general assembly and office administration. With its growth, SF Motors plans to begin trial production before the end of the year.
“Northern Indiana has a rich history of manufacturing vehicles, a mature supplier network and a highly skilled talent pool with luxury automotive experience. All these advantages make Mishawaka the perfect location to manufacture our intelligent connected EVs,” said John Zhang, founder and chief executive officer of SF Motors. “We are proud to partner with Indiana to restore up to 467 jobs to the local economy. We see this partnership as the beginning of a bright and prosperous future.”
SF Motors currently employs more than 300 associates across the U.S. To support its production and continued growth, the company has already started hiring and plans to have around 200 people working at the facility by the end of this year.
Founded in 2016, SF Motors is headquartered in Silicon Valley with facilities across the world, including manufacturing sites in China and Indiana and research and development facilities in the U.S., Germany and China. SF Motors has created a proprietary powertrain – including custom motors, gearboxes, battery cells and packs, and electronic controllers ¬- giving the company control and flexibility in the design of their vehicles. The company is also focused on intelligent technologies to deliver new levels of Protective Autonomy and connectivity.
Pending approval from the Indiana Economic Development Corporation (IEDC) Board of Directors, the IEDC will offer SF Motors Inc. up to $3.847 million in conditional tax credits and up to $500,000 in training grants based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The IEDC also offered up to $653,000 in conditional tax credits from the Industrial Recovery Tax Credit (“DINO”) program, which encourages companies to invest in former industrial facilities requiring significant rehabilitation or remodeling expenses. The county of St. Joseph will consider additional incentives at the request of the St. Joseph County Office of Economic Development.
“We are thrilled to have SF Motors join our community, and not since the days of Studebaker has St. Joe County been on the cutting edge of automobile technology,” said Andrew Kostielney, president of the St. Joseph County Commissioners. “We anticipate SF Motors will be an industry leader who will positively influence our region for generations to come.”
As companies like SF Motors continue to establish operations in the Hoosier state, Indiana is taking the state’s workforce development to the next level with a focus on the key industries and high-demand jobs driving Indiana’s 21st century economy forward, such as advanced manufacturing. Next Level Jobs – which provides grants to employers and skill-seeking Hoosiers – is working to build Indiana’s workforce to help fill more than 1 million job openings expected to be created by 2025.
About SF Motors
Headquartered in Silicon Valley with facilities across the world, SF Motors is uniquely poised to deliver intelligent electric vehicles to a broader market. We are the only pure EV provider to wholly control and operate production facilities in both the U.S. and China. Our R&D offices in U.S., Germany, and China are focused on creating the next generation of intelligent EV technology. We plan to share these capabilities to help the entire industry thrive. More information about SF Motors is available at www.sfmotors.com.
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 15-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.
Source: Indiana Economic Development Corporation News Release