TN: Nidec Motor Company to Invest $18M, Expand in Lexington, Create 301 Jobs
21 Jun, 2018
Tennessee Gov. Bill Haslam, Department of Economic and Community Development Commissioner Bob Rolfe and Nidec Motor Company officials announced the company will expand its current operations in Lexington. The electric motor manufacturer will create 301 new jobs and invest $18 million in Henderson County.
“I want to thank Nidec for choosing to expand its operations in Lexington and for creating more than 300 new jobs in Henderson County,” Haslam said. “This is a big deal for Lexington and one of the largest economic development announcements we’ve had here since 2011. I appreciate Nidec for continuing to invest in Henderson County and helping Tennessee lead in the creation of high-quality jobs.”
“It means a great deal to our state that Nidec has chosen to expand in Henderson County,” Rolfe said. “Nidec currently employs more than 200 Tennesseans and we appreciate that the company is creating more than 300 new jobs in Lexington and investing more than $18 million in this expansion in rural West Tennessee.”
Nidec is the number one comprehensive maker of electric motors in the world. The company’s product lines feature a full range of high efficiency motors, large and small, which serve industrial, residential and commercial markets. The company recently acquired Leroy-Somer Americas, which now falls under the Nidec brand.
“When Nidec acquired Leroy-Somer, we spoke about our desire to expand our presence in North America. We also discussed that employees and the community would benefit from having a partner with financial strength and a commitment to reinvesting for growth purposes,” said Kevin Newman, Nidec’s president, EPG Americas. “We are very pleased that we are able to work with our national, state and local partners to improve our infrastructure and technologies, increase production, bring jobs to the area and strengthen our company and the region.”
With this expansion, Nidec will be adding new products to its current product line. The company also plans to make modifications to its existing Henderson County facility.
Local leaders and the Tennessee Valley Authority thanked Nidec for its investment in Lexington.
“This is an exciting day for the City of Lexington and our citizens,” Lexington Mayor Jeff Griggs said. “Nidec’s decision to expand in our community is a true testament as it relates to our ability to retain and attract global companies like Nidec. Nidec could have chosen to expand anywhere in the world and we are honored that they chose Lexington. We are committed to ensure their project is successful and look forward to continuing our relationship with Nidec’s leadership.”
“This accomplishment of the expansion of Nidec is the result of hard work by many people. The cooperation between the Henderson County government and Lexington government has again paid huge dividends,” Henderson County Mayor Dan Hughes said. “I want to thank the commission and aldermen, the leadership of the Nidec management team and the State of Tennessee. But the huge thank you goes to the people that work at Nidec. The quality, the work ethic and the care they exhibit in their work are reasons why Nidec has some of the best employees in the nation. This is an economic boom to this region. Nidec has placed trust in Henderson County’s people and we will work to assure this is a good decision for the company.”
“TVA and Lexington Electric System congratulate Nidec Motor Corporation in its decision to expand operations in Lexington and create hundreds of new job opportunities,” said TVA Senior Vice President of Economic Development John Bradley. Helping to foster new job creation is fundamental to TVA’s mission of service and we are proud to partner with Lexington-Henderson County Industrial Development Board, city of Lexington and Henderson County and Tennessee Department of Economic and Community Development to help further that mission.”
Lexington and Henderson County are represented by Sen. Dolores Gresham (R – Somerville) and Rep. Steve McDaniel (R – Parkers Crossroads) in the Tennessee General Assembly.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Team Tennessee, 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: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.