LuK, a German-based automotive supplier with existing operations
in Northeast Ohio, recently announced that it would expand its
footprint in Wooster, marking a major win for the region. Already
Wooster’s largest employer, LuK plans to add 250 new jobs as
part of its expansion plan, while retaining another 1,767 jobs.
LuK’s $60 million capital investment will be used to expand
its existing automotive facility, which it uses to design and
manufacture transmission system components. The company’s
products are sold throughout the globe, making it a significant
player in the automotive industry.
The Schaeffler Group, LuK’s parent company, made the
announcement at Hannover Messe, the world’s leading trade
fair for industrial technology, in late April. In a press release
from JobsOhio, Ohio Lieutenant Governor Mary Taylor stated this
about the planned expansion:
“In a highly competitive global market, we are pleased
that Schaeffler has chosen Ohio for this investment. It’s a
testament to the strength of its talented workforce in Wooster, and
the 250 new jobs created through this investment will provide more
opportunity for families across the region.”
Northeast Ohio’s Automotive
Strengths
With deep ties to the automotive industry, LuK’s recent
decision to expand its operations in Northeast Ohio is a prime
example of the many automotive-related businesses that choose to
operate here. With some 26,000 workers who are specifically trained
in the motor vehicles, parts and body manufacturing sectors, it is
no surprise that so many automotive suppliers have found success in
Ohio.
Not only does Ohio boast the second largest auto manufacturing
workforce in the U.S., its employee costs are 10 percent lower than
the national average for the top 10 auto-industry occupations in
the country. The state’s strong automotive workforce is just
one of the many factors that has helped attract international
companies like LuK. Recognized as the largest automotive
manufacturer in the U.S. outside of Detroit, the state’s
automotive GRP is projected to grow 79 percent by 2024, a pace that
is 19 percent faster than the rest of the nation. This strong
growth is indicative of Ohio’s innumerable automotive
strengths; strengths that continue to support expansion efforts
like that of LuK in Wooster.
While LuK marks a major win for our region, it is just one
example of the many automotive-related companies that have found
success in Northeast Ohio. With ongoing automotive-related
investments being made throughout the region, the automotive
industry is on target to be an important economic driver for
decades to come.