March 6, 2024
Governor Whitmer announced today that LT Precision Michigan, LLC is creating 70 new jobs and investing $43.2 million to establish its North American headquarters in Holland. The company will initiate new manufacturing operations at the Holland location, further bringing supply chains home to Michigan.
“LT Precision’s new North American headquarters in Holland will create 70 good-paying jobs and keep bringing the advanced manufacturing supply chain home to Michigan,” said Governor Whitmer. “This investment will build on our strength as the destination for growing companies in the battery and future mobility sectors. Let’s continue going everywhere and working with anyone to win projects and create high-skill, family-sustaining jobs across Michigan.”
LT Precision Michigan, LLC, a subsidiary of the Korea-based LT Precision Co., LTD, is renowned for supplying battery cooling plates to electric vehicle manufacturers in the United States. The company excels in producing components and machinery for both electric and conventional vehicle markets. It boasts expertise in designing, developing, and manufacturing machinery parts, molds, welding and assembly machinery, and fixtures for Tier 1 and Original Equipment Manufacturer (OEM) automotive companies.
The company’s strategic location in Holland will serve as a central hub for its manufacturing and corporate offices. The project is expected to generate a total investment of $43.2 million and will create 70 new jobs in the production of cooling plates for EVs.
“The Lakeshore region’s advanced energy storage cluster continues to grow and thrive,” said Jennifer Owens, president of Lakeshore Advantage. “LT Precision’s decision to invest in West Michigan’s lakeshore region is a well-earned vote of confidence in our capabilities, talent pool, and business environment. Having LT Precision join our ecosystem will not only create good jobs and investment, but also enhance our cluster’s innovation, productivity, and competitiveness. We look forward to welcoming LT Precision to the community.”
The city of Holland has offered a property tax abatement in support of the project.
“The City of Holland is excited to welcome LT Precision’s first U.S. manufacturing plant,” said Mark Meyers, director of community and neighborhood services with the City of Holland. “The new facility is a great example of the economic spin-off created from existing manufacturers making business-to-business transactions. The capital investment, and more importantly job creation, is significant.”
Read the full press release on LT Precision’s new headquarters in Holland. Those interested in career opportunities at LT Precision can contact the company’s representative, Mr. Kim Sung Jin, at dkss402@ltpr.co.kr.