PERRYVILLE, MO (KFVS) - TG Missouri will add a new production line to manufacture chrome components for Toyota's plant in Princeton, Ind.
The company plans to construct 33,000 square feet of additional manufacturing space. at it's Perryville facility.
This expansion will create 200 new jobs over the next five years.
Gov. Jay Nixon was in Perryville Friday to announce plans for a $38.9 million expansion at the headquarters of TG Missouri.
"This reinforces the unprecedented opportunity we have to grow and expand the auto supplier network throughout our state. With Ford and GM in the process of investing a combined $1.5 billion to create 3,200 new jobs in Missouri, and other great companies like TG Missouri poised to expand, we must build on these investments to expand our network of existing suppliers and bring new suppliers to the state."
TG Missouri employs about 1,200 people. The company makes plastic automotive parts for Toyota, GM, Honda and Mitsubishi. TG Missouri produces interior and exterior components like dashboard and console accessories and safety systems products like airbags and steering wheels.
The new product line will supply chrome components for grills and rear details for the Toyota Highlander vehicle, which is manufactured at the automaker's plant in Indiana.
Under the bipartisan Missouri Works legislation, suppliers will be eligible for economic incentives if they meet specific requirements for job-creation and capital investment. Employers must pay wages equal or above the county average and provide health insurance benefits to employees.
Automotive suppliers considering expansion in or relocation to Missouri can obtain information about state incentives, training programs, the state's business climate and more at the state of Missouri website, Mo.gov.
In addition to state incentives, TG Missouri also is receiving $200,000 in funding from the Delta Regional Authority which works closely with the Governors, Senators and Congressional delegation of the states in the Mississippi River Delta region. It is a congressionally-created organization that identifies and invests in small business and community projects in the 252 counties and parishes of the Delta.
The company temporarily laid off about 240 workers in 2008, but has since rehired.
In 2010, Gov. Nixon stopped at TG Missouri to announce a $500,000 state grant to the city to build a new electric transformer. The new electric transformer, poles and lines provided TG Missouri with the electric supply needed to expand operations.