Flexitech’s Bloomington Facility Expansion Will Create and Retain 205 Jobs
CHICAGO – Gov. Rod R. Blagojevich today announced $1.5 million in Opportunity Returns support for Flexitech, Inc., one of the world’s largest manufacturers and suppliers of brake hoses, to help the company expand its current operations in Bloomington. 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, the Governor’s comprehensive economic development strategy to create more jobs and continue expanding the economy in North Central Illinois.
“By investing in companies that are investing in Illinois, we are helping them boost their competitiveness and increase their productivity. Flexitech is a great example of a growing manufacturer who needed new resources to accommodate its expanding business and to continue reaching new customers. By targeting our support at the local level, we’re building an extremely competitive business environment where companies, both large and small, can put even more people to work,” Gov. Blagojevich said.
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. The company also considered locating at a site in Indiana.
“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 Flexitech, Inc. President Randy Ross.
The Illinois Department of Commerce and Economic Opportunity (DCEO) will be administering the business investment package. It includes Economic Development for a Growing Economy (EDGE) corporate income tax credits over the next ten years based on job creation and retention; and Employer Training Investment Program (ETIP) job training funds.
“Gov. Blagojevich and I believe that by being pro-active and listening and responding to the needs and priorities of the business community, we’re providing the resources and the support so companies can put more people to work and grow our economy. This investment package for Flexitech is helping to enhance its future success in Illinois and across the globe, while creating more jobs across the region,” DCEO Director Jack Lavin said
Since January 2004, Illinois has gained 173,600 jobs, which is best in the Midwest. Illinois led the nation in new job growth in January 2007 with 19,100 new jobs. In 2006, Illinois gained 71,000 new jobs, which is the best calendar year gain since 2000. Over the last 4 years, from January 2003 to December 2006, Illinois had the second largest unemployment rate drop in the nation. Over the last 4 years, McLean County has consistently had one of the lowest unemployment rates in Illinois. In February 2007, at 4.2 percent, it had the third lowest unemployment rate of any county in the state. The federal Bureau of Labor Statistics and the Illinois Department of Employment Security compiled these statistics.
Gov. Blagojevich’s Opportunity Returns regional economic development strategy is the most aggressive, comprehensive approach to creating jobs in Illinois’ history. Since a one-size-fits-all approach to economic development just doesn’t work, the Governor has divided the state into 10 regions – each with a regional team that is empowered and expected to rapidly respond to opportunities and challenges. Opportunity Returns is about tangible, specific actions to make each region more accessible, more marketable, more entrepreneurial and more attractive to businesses. It is about upgrading the skills of the local workforce, increasing the access to capital, opening new markets, improving infrastructure, and creating and retaining jobs. Opportunity Returns is about successfully partnering with companies and communities, both large and small, to help all of Illinois reach its economic potential.