Follow LA Observed on Twitter here
The Korean automaker is investing $150 million in the project, which will result in around 1,500 construction jobs. The plan is to more than double the size of the current facility in Fountain Valley and double the size of the workforce, to 1,400. From the OC Register:
Mong-Koo Chung, Hyundai's chairman, made the commitment for the project in a meeting with Gov. Arnold Schwarzenegger, who is on an Asian trade tour. "This investment ensures that Orange County will remain Hyundai's U.S. hub, with our headquarters in Fountain Valley, for the foreseeable future," said John Krafcik, president and chief executive of Hyundai Motor America. "The new building will give us the flexibility to grow with our brand, reflect our modern design sensibility, and showcase our commitment to sustainability."
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.