Ohio vehicle supply company opens R&D center in Cedar Park
Dec 19, 2013
Austin American Statesman
An Ohio-based vehicle supply company is opening a research and development center in Cedar Park that’s expected to create more than 80 jobs.
City officials hailed the coming of Dana Holding Corp., a Fortune 500 company which supplies axles, driveshafts, transmissions, sealing and thermal-management products and service parts.
The $12 million project is expected to open in the spring, with more than 80 engineers and support staff. City officials said many salaries will reach around $100,000 and the project will have $277 million in economic impact over the next 10 years.
“Dana was launched nearly 110 years ago with a game-changing innovation that helped to commercialize motorized transportation, and our new technology center in Cedar Park will propel the development of the next generation of fuel-efficient transmission technology,” George Constand, Dana’s chief technical and quality officer, said in a statement.
Dana will receive financial incentives totaling just over $1.25 million from the city. Those incentives will be earned as Dana meets occupancy, investment, and employment milestones. The company is working with a local developer to prepare more than 40,000 square feet of space in the Scottsdale Crossing Commerce Park.
City officials said those incentives helped seal the deal.
“This is what we do in this city,” Cedar Park mayor Matt Powell said. “We want to attract primary jobs.”
The center is also part of Dana’s effort to leverage its relationship with Fallbrook Technologies, which is based in Cedar Park. Last year, Dana licensed technology from Fallbrook that enables designers to reduce complexity of transmissions, while enabling engines to operate at more efficient speeds.
“At this facility, we plan to further develop the continuously variable planetary technology that we have licensed from Fallbrook Technologies, Inc., for use in light vehicles (passenger cars, pickup trucks, vans, SUVs, etc.) and some off-highway equipment,” said Jeff Cole, a company spokesman in an email.