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LIMESTONE COUNTY – EFI Automotive in Elkmont recently announced a $6 million investment to its North American Headquarters.
According to EFI Finance Manager François Lefebvre, EFI Automotive specializes in the design and manufacturing of sensors, activators, and actuators, to improve powertrain and transmission efficiency.
Lefebvre says this investment will create two new production lines and will produce six million sensors annually, entirely dedicated to Ford Motor Company.
One production line will produce transmission range sensors for the Ford F-Series truck and the other will produce engine sensors for the Super Duty trucks and the E-Series which will result in approximately $30 million in annual revenue for the facility.
Lefebvre explains the machinery EFI invested in includes laser welding machines, manufacturing presses, more than 12 different injection molds, swagging machines, magnetization stations, and end of line testing equipment.
Along with the capital investment, Lefebvre says there will be 35 new jobs over the next three years which include maintenance, quality, logistic technicians, and operators.
Lefebvre credits the need for the investment due to the sharp increase in volume of sensors. The start of production for these new products is planned to be at the end of 2023 and slowly ramping up into 2024.
TAX ABATEMENT
The Elkmont town council approved a tax abatement of non-education taxes for sales and use taxes during construction and property taxes. During construction, EFI will save approximately $192,500 and the schools will receive $55,000. The property tax abatement will save EFI $251,750 and the schools will receive $121,212 over a ten-year period.
The Limestone County Economic Development Association (LCEDA) is pleased EFI Automotive selected Elkmont to invest rather than investing at one of their other locations.
“EFI Automotive has been in operations in Elkmont since 2004,” Bethany Shockney, LCEDA president & CEO said. “This investment shows their confidence and commitment to our county.”
Lefebvre says this abatement will help EFI secure its cash position to remain an active employer in Limestone County.
“EFI has been and continues to be an outstanding corporate partner and the Town of Elkmont is honored to have the opportunity to play a small role in this announcement,” Elkmont Mayor Tracy Compton said. “I want to thank the leadership and all employees of EFI Automotive for being a part of our community.”
Compton says, along with the town council, they strive to ensure that every step they take as a municipality is laser focused on improving the quality-of-life in Elkmont and this announcement certainly meets that goal.
Media Release/Blake Williams Communication & Research Specialist/Limestone County Economic Development Association/Photo courtesy of EFI Automotive
