Auto tech giant to open center in Cedar Park

Dec 17, 2013
Austin Business Journal

Dana Holding Corporation (NYSE: DAN) said Monday it had finalized plans to open a technology center in Cedar Park

The Ohio-based car technology company has pledged a $12 million investment and more than 80 high-paying engineering jobs and support staff. The company has negotiated more than 40,000 square feet of space at Cedar Park's Scottsdale Crossing Commerce Park near Highway 183. The center is expected to generate an economic impact of $277 million, according to a release from Cedar Park

In exchange, Dana (NYSE: Dana) has worked out an economic development agreement for $1.25 million in financial assistance through a 10-year period from the city of Cedar Park. The agreement has been approved by Cedar Park's City Council and city of Cedar Park's 4B Community Development Corporation

In September of 2012, Dana licensed transmission technology from Cedar Park-based Fallbrook Technologies. The new technology center is a part of Dana's effort to better its strategic relationship with Fallbrook, according to a release

Operations are expected to begin in the spring of 2014

Dana employs more than 23,500 across 26 countries and reported 2012 sales of $7.2 billion

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