Lear Corp. Plans Major Hammond Investment

Posted: Updated:
The company says the facility will house 750 workers. The company says the facility will house 750 workers.
HAMMOND -

Michigan-based auto systems manufacturer Lear Corp. (NYSE: LEA) has reached a development agreement with the city of Hammond to invest $30 million into a new location. The city says the proposal, which will be considered by the Hammond Redevelopment Commission Tuesday, will allow it to keep its fourth-largest employer in town.

The 240,000 square-foot plant will be located on a long-vacant property. The company says the facility will house 750 workers and have room for physical expansion and additional jobs if demand grows. Lear makes seats for the Ford Explorer at the plant.

The development agreement includes a $4 million incentive provided by the city to Lear Corp. In a news release, the city says the incentive "makes economic sense" because of the large number of high-paying jobs that will stay in Hammond because of the investment.

Hammond Mayor Thomas McDermott says the announcement marks "a great day for our city." He says Hammond has been in competition for the investment with several communities throughout the Chicagoland area, and economic development leaders have worked for the past year to secure the expansion.

  • Perspectives

    • Sign Up For 'my Social Security' - It's a No-Brainer!

      Your current age or status doesn't matter. If you've earned a paycheck at some time in your life, keeping tabs on what the Social Security Administration shows you've earned just makes good sense. But does the thought of waiting in line at the Social Security office make you cringe? Then don't do it! Now there's another option...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Sign Up For 'my Social Security' - It's a No-Brainer!

      Your current age or status doesn't matter. If you've earned a paycheck at some time in your life, keeping tabs on what the Social Security Administration shows you've earned just makes good sense. But does the thought of waiting in line at the Social Security office make you cringe? Then don't do it! Now there's another option...

    • Opioid Withdrawal Treatment Lands FDA Clearance

      The U.S. Food and Drug Administration has given clearance for a medical device developed in Indiana to help treat symptoms of opioid withdrawal. The device, known as the NSS-2 BRIDGE, was created by Innovative Health Solutions Inc. in Versailles.

    • Coal Loading Facility Planned For Princeton

      A subsidiary of Denver-based Hallador Energy Co. (Nasdaq: HNRG) has announced plans to construct a new truck-to-rail coal loading facility near Princeton. Sunrise Coal LLC in Terre Haute says the facility, known as the Princeton Loop, is expected to be complete in the spring of 2018. 

    • Blackhawks, Bruins to Play at Notre Dame Stadium

      Notre Dame Stadium will be the site of a high-profile National Hockey League game next season. The league has announced the University of Notre Dame will host the 2019 Bridgestone NHL Winter Classic featuring the Chicago Blackhawks and Boston Bruins. Commissioner Gary Bettman expects the game to be the "largest live audience ever to witness a game by either of these teams." Notre Dame Stadium can hold some 80,000 fans, providing "an ideal setting..."

    • Hoosier Businesses Among 'Most Respected'

      Three Indiana companies are listed among their respective industries on an annual list for corporate reputation. The World's Most Respected Companies from FORTUNE are determined by nine factors that are voted on by executives from 680 companies in 28 countries. None of the businesses based in Indiana made FORTUNE's Top 50 "All-Star" list.