Automotive Parts Manufacturer to Invest $69.5 Million, Create 117 New Jobs
NASHVILLE â€“ Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Bill Hagerty along with OTICS USA, Inc. officials announced today the company will construct a new automotive parts manufacturing facility in Sevierville to support company growth and increased product demand. With operations currently in Morristown, OTICS USA will invest $69.5 million in the companyâ€™s second Tennessee facility and create 117 new jobs in Sevier County.
â€œWe want to thank OTICS for continuing to invest in our state and creating more than 100 new jobs in Sevier County,â€ Haslam said. â€œPart of our Jobs4TN strategy has focused on expanding businesses already located in Tennessee, and it means a great deal that OTICS has chosen to continue to produce its goods here. Todayâ€™s announcement is not only great news for East Tennessee – it also brings us another step closer to making Tennessee the No. 1 location in the Southeast for high quality jobs.â€
â€œTennessee boasts a number of key advantages that make our state stand at the forefront when business owners are considering expansion including our favorable central location and dedicated workforce,â€ Hagerty said. â€œOur specialized automotive sector is a significant competitive strength for Tennessee, and I couldnâ€™t be more pleased to see OTICS leverage this asset for our state. I appreciate the companyâ€™s decision to expand in Sevierville and wish them much continued success in the future.â€
â€œOTICS USA recognizes the importance of the U.S. automotive market, and that is why we are very excited about expanding our operations in Sevier County,â€ OTICS USA Executive Vice President Yuki Odai said. â€œThis region offers us a great location for supplying our customers and for supplying us with quality employees from the surrounding communities. We know that working together with Sevier County will enable us to successfully grow our business in North America.â€
OTICS USA has purchased a 29-acre site at the new Sevier County Interstate 40 Industrial Park in Sevierville. Construction is slated to begin in April 2015, and the company plans to be operational in early 2017. Specializing in the production of several key engine components for the automotive industry, additional capacity is planned for the Sevier County location to support future demand from their customers. OTICS USAâ€™s Morristown facility has undergone three expansions since locating in Hamblen County in 2001 and currently employs a workforce of more than 250.
â€œI would like to thank the Sevier County Economic Development Council, the Tennessee Department of Economic and Community Development and TVA for their roles in locating OTICS in Sevier Countyâ€™s newest industrial park,â€ Sevier County Mayor Larry Waters said. â€œThis is a great project for our county and East Tennessee. OTICS will provide good jobs for our citizens. We look forward to the completion of the project, and we will do everything we can to insure their success.â€
â€œTVA and Sevier County Electric System congratulate OTICS USA on its announced plans to build a new facility in Sevier County,â€ TVA Senior Vice President of Economic Development John Bradley said. â€œWe are pleased to partner with the state of Tennessee and the Sevier County Economic Development Council to support OTICS USA, which will create more than a hundred new jobs in the community.â€
If you would like more information about OTICS USA, please visit their website at www.oticsusa.com.
About the Tennessee Department of Economic and Community Development
Tennessee was named â€œ2013 State of the Yearâ€ for economic development by Business Facilities magazine. The Tennessee Department of Economic and Community Developmentâ€™s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tn.gov/ecd. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.