Auto products manufacturer bringing $12.3M East Coast hub near Charlotte
An automotive products manufacturer will receive over $500,000 in local tax incentives to invest $12.3 million to establish its East Coast hub in NASCAR country.
Kentucky-based Holley Performance Products, a manufacturer of high-performance automotive products for cars and trucks, will move into the 111,000 square feet of manufacturing space in Mooresville Business Park East on Manufacturers Boulevard.
The Mooresville expansion represents a total investment of $12.3 million in real property, machinery and equipment, Jenn Bosser, president and CEO of the Iredell County Economic Development Corporation said during the Mooresville board of commissioners meeting earlier this month.
Holley has 80 employees and plans to hire 40 more in Mooresville over the next three years with an average salary of $40,000, Bosser said. Iredell County’s overall average annual salary is $51,136, according to the North Carolina Department of Commerce.
Last week, the Iredell County Board of Commissioners approved an economic incentive up to $240,626 over five year period, contingent upon a contract being executed within 180 days. On Nov. 1, the town of Mooresville approved up to $262,712 in an economic development incentive grant to be paid over five years.
The Holley brands includes nearly 70 companies, including Mooresville-based Detroit Speed, GearFX Driveline and Simpson Performance Products.
Holley also holds large events for car enthusiasts throughout the U.S., Bosser told the Mooresville commissioners, and could generate local tourism revenue.
“Holley Performance Products is a top name in automotive racing and performance parts manufacturing and has a strong reputation among car enthusiasts,” Mike Atkins, mayor of the town of Mooresville, said in a statement.
This year, the 118-year-old company became a publicly listed company on the NYSE under “HLLY,” according to a company news release.
This story was originally published November 22, 2021 at 1:32 PM.