LT Precision spends $43.2 million to open first U.S. facility in Michigan

March 8, 2024
The plant is supported by a $700,000 performance-based grant from the Michigan Business Development Program

LT Precision Michigan, LLC, a subsidiary of LT Precision Co., LTD, has announced plans to initiate new manufacturing operations in Holland, Michigan. The company, which specializes in battery cooling plates for electric vehicle manufacturers, will invest $43.2 million into the project, generating 70 new jobs in the process. The plant, which will be the Korean-based company’s first facility in the U.S., is supported by a $700,000 performance-based grant from the Michigan Business Development Program, as well as a property tax abatement from the city of Holland.  

In a recent quote, Governor Whitmer said, “LT Precision’s new North American headquarters in Holland will create 70 good-paying jobs and keep bringing the advanced manufacturing supply chain home to Michigan. This investment will build on our strength as the destination for growing companies in the battery and future mobility sectors. Let’s continue going everywhere and working with anyone to win projects and create high-skill, family sustaining jobs across Michigan.” 

Investing in American Manufacturing - 2024

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