The Hyundai supplier plans to hire 400 workers at a new $67 million plant in Georgia
South Korea’s PHA, which makes latches, hinges and other parts for vehicle doors and hoods, will become the sixth major supplier to settle near a Hyundai Motor Group plant being built on the Georgia coast.
PHA announced Monday it would invest $67 million at a site about 15 miles west of Savannah and hire 400 people. The company already has a plant in Montgomery, Alabama, near the Hyundai plant in that city.
Hyundai said in May it would build a $5.5 billion electric vehicle and battery assembly plant in Ellabell, Georgia. The site could grow to 8,100 employees and is scheduled to start producing vehicles in 2025.
PHA said operations would begin in 2024.
Hyundai suppliers have now announced investments of 1.8 billion US dollars in the region.
The state pays to train workers, but the full stimulus package from state and local governments was not immediately clear Tuesday.
The local community will donate land for the facility, said Angela Hendrix, a spokeswoman for the Savannah Economic Development Authority. She said Chatham County will cut property taxes for 15 years, giving the company a projected 60% tax savings. Hendrix did not release a dollar value for the cuts.
PHA could also qualify for nearly $8 million in state income tax credits, at $4,000 per job over five years, as long as workers make at least $31,300 per year.
Among other suppliers, Sewon Precision Industry Co. is planning a $300 million metal stamping plant near Savannah with 740 workers. Seoyon E-HWA is planning a $76 million plant near the city to make interior and exterior trim parts and is hiring 730 workers. Hyundai Mobis announced a $926 million powertrain plant in Richmond Hill with 1,500 employees. Joon Georgia plans a $317 million plant near Statesboro with 630 workers and Ecoplastic plans a $205 million plant with 456 workers in register.
