An automotive parts manufacturer is headed to Mooresville Business Park East to occupy a speculative building that was announced earlier this year.
Bowling Green, Kentucky-based Holley said today it would establish an East Coast operation in Mooresville. The Mooresville Board of Commissioners approved incentives for the project yesterday.
At the commissioners' meeting, a presentation stated the project calls for $12.3 million in investment and that Holley would bring 80 existing employees to the operation. It would also add 40 new jobs at an average wage of $40,000, said Jenn Bosser, president and CEO of Iredell Economic Development Corp., at the meeting. The town incentives for the project are worth up to $262,712.
The Iredell County Board of Commissioners will consider additional incentives on Nov. 11.
Holley will occupy an industrial building being developed by Wilcombs LLC, a partnership between Statesville-based G.L. Wilson Building Co. and McCombs Steel. The building was announced in April at 111,488 square feet, and it was expected at the time to deliver by the end of this year. Wilcombs said at the time the building would be expandable by an additional 83,616 square feet.
Holley owns nearly 70 brands, including Mooresville-based Detroit Speed, GearFX Driveline and Simpson Performance Products.
“Holley is a top name in automotive racing and performance parts manufacturing and has a strong reputation among car enthusiasts," Mooresville Mayor Miles Atkins said in a press release. "We are excited to add them to the portfolio of automotive parts manufacturers in Mooresville’s industrial landscape.”
Mooresville Business Park East is a 476-acre industrial park being developed by the South Iredell Community Development Corp., a public-private partnership. It has seen success and failures in recent years as it aims to land manufacturers.
In late April, the Charlotte Business Journal reported that Tristone Flowtech USA would shutter its facility at the park. Documents show the company would lay off 51 workers this summer as a result. That project was originally announced in 2017, with the company pledging to hire 300 by the end of 2020.
The park has landed other investments as well. Italy-based FITT Group announced last year its U.S. headquarters would locate at the park. That project was announced at a $25.6 million investment, calling for 144 jobs and the construction of a 120,000-square-foot facility there.