COLUMBUS, Ohio, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Ohio Governor Mike DeWine, Lt. Governor Jon Husted, JobsOhio President and CEO J.P. Nauseef, and Ohio Department of Development Director Lydia Mihalik announced today that Schaeffler, a pioneering force in the field of motion technology, will build a new manufacturing facility in Dover, Ohio, bringing 650 jobs and $54 million in associated payroll to Wayne and Tuscarawas counties.
“Ohio has always been home to the leading edge of automotive technology, and today’s announcement is further proof that Ohio will continue to dominate in this field,” said Governor DeWine. “Schaeffler is already established in Ohio, and we welcome their decision to expand here to support our growing and thriving electric vehicle ecosystem.
Schaeffler operates a manufacturing facility in nearby Wooster, Ohio, and an automotive aftermarket operation in Strongsville, Ohio. They are a global manufacturer of high-precision components and systems for engines and transmissions. The company’s new facility in Dover will manufacture electric beam axles and electric drivetrain systems to support the hybrid/EV industry.
The new jobs will be spread out between both locations. The state-of-the-art manufacturing facility in Dover will offer various employee amenities and developmental opportunities. The company expects to break ground in mid-2024 and open in quarter three of 2025.
“Forward-looking companies like Schaeffler understand the value and advantages of doing business in Ohio,” said Lt. Governor Jon Husted. “In addition to promoting innovation, this project creates hundreds of quality jobs to be filled by Ohioans living in the region, helping to bring about a brighter future for the families and communities in Wayne and Tuscarawas counties.”
Schaeffler is committed to fostering innovation and expertise and investing in the next generation of manufacturing. Partnerships with local technical colleges will ensure a robust talent pipeline and provide the community with both apprenticeship and pre-apprenticeship opportunities to be part of the future of electric mobility.
To support Schaeffler’s commitment to bringing 650 new jobs to Ohio, the Ohio Tax Credit Authority approved a Job Creation Tax Credit for the project. The company has also committed to retaining 1,622 current jobs and making more than $230 million in total fixed-asset investments.
"Schaeffler’s decision to expand in Northeast Ohio reflects our state’s dedication to attracting world-class companies in critical industries,” said Ohio Department of Development Director Lydia Mihalik. "The EV market and automotive sector are thriving in Ohio, and today’s announcement is proof of how companies can prosper here.”
Schaeffler Group USA provides components for drivetrains in automotive, aerospace, and industrial applications. The Wooster location is home to R&D and manufacturing for Schaeffler’s automotive operations. Key customers include Ford, General Motors, and Stellantis.
“Ohio’s history of automotive excellence and passion for moving the sector forward provides Schaeffler the opportunity to manufacture the world’s latest EV components with elite talent in the heart of the North American market,” said JobsOhio President and CEO J.P. Nauseef. “Schaeffler’s continued growth in Northeast Ohio demonstrates the company’s confidence in its current skilled workforce and the state’s business-friendly environment.”
Schaeffler Group USA’s parent company, Schaeffler AG, is headquartered in Germany and operates in approximately 200 locations and 50 countries. The company’s decision to expand in Ohio also reflects JobsOhio’s dedication to attracting foreign direct investment from competitive companies throughout the world. Since 2011, JobsOhio and its partners have completed more than 600 international corporate projects involving $18 billion in capital investment and over 45,000 jobs.
“This is an exciting milestone for Schaeffler, as we look forward to strengthening our presence in Ohio and prepare for the significant transformational growth ahead. Wooster, Ohio serves as our largest location in the Americas region encompassing a vertically integrated manufacturing facility, training, and product development centers. Similar to Wooster, the City of Dover offers a supportive community and an industrious workforce. The Wooster and the Dover teams will work closely together to strengthen our competitive advantage, as we continue to pioneer motion,” said Marc McGrath, Chief Executive Officer of Schaeffler Americas.
The impact of Schaeffler’s plans will also help bolster local economic development in Northeast Ohio, particularly Wayne and Tuscarawas counties, where Wooster and Dover are located, respectively.
"Bringing a global manufacturer here producing e-mobility components for vehicles will provide high-wage, high-skill jobs to residents of Dover and the surrounding area, said Dover Mayor, Shane Gunnoe. “Schaeffler’s investment in the City of Dover represents a generational opportunity. We are proud to welcome the company to the community and are confident they will achieve the success they are seeking at this new location.”
Mayor Bob Reynolds of the City of Wooster said “The City of Wooster celebrates the expansion of Schaeffler as they pioneer a new chapter of growth and innovation within our community. This strategic move not only underscores Wooster's commitment to fostering a dynamic business environment but also highlights our city as a hub for cutting-edge industries.”
“The Tuscarawas County Economic Development Corporation and Economic Development and Finance Alliance thank all the partners and team members that worked on this project, and above all, we express appreciation to Schaeffler Group for selecting the City of Dover,” said Executive Director, Marla Akridge. “Rural economic development is difficult. Deals like this don’t happen often. Without the help of utility providers, Team NEO, JobsOhio, the Ohio Department of Development, and Ohio Department of Transportation, this project would not have happened in Tuscarawas County.”
“Schaeffler’s investment is a tangible, continuous affirmation of the strengths of the Northeast Ohio Region through their renewed and increased financial commitment here,” noted Team NEO Chief Executive Officer Bill Koehler. “We are grateful for Schaeffler’s commitment to the region.”
The Ohio Department of Development will also ask the Controlling Board to consider a Roadwork Development (629) grant on March 4. JobsOhio also plans to provide assistance and will make that information public after a final agreement is executed.
###
Contacts:
Ohio Governor Mike DeWine
Dan Tierney: 614-644-0957
Jill Del Greco: 614-644-0957
JobsOhio
Matt Englehart: 614-300-1152
englehart@jobsohio.com
About JobsOhio
JobsOhio is a private nonprofit economic development corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention, and expansion. The organization also works to seed talent production in its targeted industries and to attract talent to Ohio through Find Your Ohio. JobsOhio works with six regional partners across Ohio: Dayton Development Coalition, Ohio Southeast Economic Development, One Columbus, REDI Cincinnati, Regional Growth Partnership, and Team NEO. Learn more at www.jobsohio.com. Follow us on LinkedIn, Twitter, and Facebook.
About Team NEO
Team NEO is a private, nonprofit economic development organization accelerating business growth and job creation throughout the 18 counties of the Northeast Ohio Region. As the designated JobsOhio Network Partner, they align and amplify local economic development efforts in the region’s 18 counties; Team NEO conducts research and data analysis to inform local conversations and influence solutions; they market the Northeast Ohio Region; and work to increase access to jobs, education and training for the region’s 4.3 million people. Team NEO does this to build a more vibrant regional economy; one that is more talented, equitable, competitive, innovative, resilient, and prosperous. For more information, visit northeastohioregion.com.
Attachment
