Illinois economic development officials recently announced $1.5 million in Opportunity Returns support for Flexitech, Inc., one of the world’s largest manufacturers and suppliers of brake hoses, in order to help the company expand its current operations in Bloomington, Ill.
The Michigan-based company is expanding to accommodate multiple manufacturing cells, which will create 100 new jobs, as well as retain its existing 105 Illinois employees. The investment package comes as a part of Opportunity Returns, a comprehensive economic development program to create more jobs and continue expanding the economy in North Central Illinois.
Flexitech, Inc. formed in 1999 as a joint venture between parent company Freudenberg-NOK General Partnership, Mitsubishi Corporation and Meiji Rubber & Chemical Company, LTD. The company’s corporate headquarters is located in Plymouth, Michigan and operates production through its Bloomington facility, where the company manufactures brake hose assemblies and oil coolers.
The company will invest approximately $10 million for a 25,000 square foot building expansion and improvements to the existing 38,400 square foot facility in Bloomington. This expansion is needed to increase production capacity, which will accommodate a significant increase of sales over the next 18 months.
“To support our growing worldwide sales, this expansion at our Bloomington facility will allow Flexitech to boost our production capacity and increase our competitiveness. We look forward to growing our presence in the Bloomington community and thank Governor Blagojevich for his support,” said Randy Ross, president of Flexitech.
The Illinois Department of Commerce and Economic Opportunity will be administering the business investment package. It includes Economic Development for a Growing Economy corporate income tax credits over the next 10 years based on job creation and retention; and Employer Training Investment Program job training funds.
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