Automotive parts supplier LMV Automotive Systems will invest an additional $48.7 million to expand its Liberty operation, Gov. Jay Nixon announced today. The expansion is expected to create an additional 166 new jobs and is the second major investment by LMV in two years.
“From my very first day in office, I have been committed to making Missouri a leader in the rebirth of the American auto industry – and these efforts continue to pay off with LMV’s announcement today,” Gov. Nixon said. “The decision by this industry leader to double-down on its investment in the Show-Me State marks another major milestone in Missouri’s auto manufacturing comeback. With proven, pro-growth policies and smart investments, we will continue creating good jobs for Missouri families and moving our economy forward.”
Today’s announcement is the second phase in the company’s manufacturing operation in Missouri. In June 2012, LMV broke ground on a $42 million assembly facility in Liberty. The facility, which will supply parts to be used in the new Transit van being built at the Ford Motor Co. Kansas City Assembly Plant in Claycomo, will employ 156 workers. LMV’s expansion will add a new 256,600 square-foot facility and create an additional 166 new jobs. Operations of the first facility and construction of the second facility are expected to begin this summer.
“We continue to gain significant momentum in economic development and job creation in Liberty,” said Lyndell Brenton, Mayor of the City of Liberty. “Less than two years after breaking ground for a 213,000 square foot facility in Liberty, LMV Automotive is proving that Liberty is an ideal and welcoming community for businesses with this expansion announcement. Although they have yet to reach full production in the original facility, this 250,000 square foot expansion not only represents an additional $49 million investment in our community but also will bring another 166 new, good paying jobs to Liberty.”
LMV Automotive is a subsidiary of Cosma International, the parent company of Cosma is Magna, the world’s fourth-largest supplier of auto parts. Since the announcement of LMV’s groundbreaking, Gov. Nixon has met with Magna leadership on several occasions, including meeting with Magna CEO Donald Walker during a recent trade mission to Canada.
Since taking office, Gov. Nixon has made it a top priority of his administration to reenergize the Missouri automotive industry. On his first full day as Governor, Gov. Nixon established the Missouri Automotive Jobs Task Force to make recommendations on strategies to attract automotive investment in Missouri. In the summer of 2010, the Governor called a special session of the General Assembly to pass the Missouri Manufacturing Jobs Act, a package of strategic incentives to attract next-generation automotive manufacturing to the state.
As a result of these efforts, Missouri's automotive manufacturing industry has rebounded. Ford and General Motors have invested a combined $1.5 billion and created thousands of jobs to produce all-new next-generation vehicles at their facilities in Claycomo and Wentzville. Missouri has also seen strong growth among automotive suppliers. LMV Automotive Systems joins suppliers like Janesville Acoustics, Yanfeng USA Automotive Trim Systems, SRG Global, Adrian Steel, Toyota Bodine, and Grupo Antolin North America in announcing plans to invest and expand in the Show-Me State over the past two years.
To assist LMV Automotive Systems with its expansion, the Department of Economic Development has offered a strategic economic incentive package that the company can receive if it meets strict job creation and investment criteria.