Tier 1 auto supplier to open first U.S. manufacturing plant in Washington County next year

URLhttps://www.wjhl.com/news/local/tier-1-auto-suppli
Sourcewjhl.com
Date Published08/25/2021
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Sungwoo Hitech
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):200
Year reshoring announced:2021
Year reshoring implemented or to be implemented:2023
Domestically, the work will be done:In-house
Country(ies) from which reshored:Korea, Republic of
City reshored to:Telford
State(s) reshored to:TN
If relevant, work nearshored to:-
Industry(ies):Transportation Equipment
Product(s) reshoredcar parts for GM
What domestic positive factors made reshoring more attractive?Eco-system synergies, Government Incentives, Proximity to customers/market
Government Incentive dollar amount:tax incentives
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