Hana Factory Automation Relocates to Opelika, AL
Auburn-based Hana Factory AutomationÂ intends to relocate to Opelikaâ€™s Fox Run Business Park, bringing with it an initial 40 jobs and a $4.07 million capital investment.
Auburn Economic Development Director Phillip Dunlap said Hana isÂ a service-based company that works with other Korean companies in the area. The city of AuburnÂ helped facilitate the companyâ€™s initial location in the area in a business incubation unit at the Auburn Center for Developing Industries.Â Business incubators are facilities where up-and-coming, entrepreneurial businesses can have space and resources for future growth.
â€śTheyâ€™ve been in an incubator the whole time, and we told them they would have to relocate from our incubator,â€ť DunlapÂ said. â€śSo, basically, they havenâ€™t made a tremendous amount of capital investmentâ€ť in Auburn.
Opelika Economic Development Director Lori HuguleyÂ said the company plans to relocate to the former Prolific Plastics buildingÂ in the Fox Run Business Park.
The Opelika City CouncilÂ approved tax abatements for the company and its president, Soon Hae Ahn. Two abatements were available because Â AhnÂ has said he will purchase the building in his own name and lease it to the company, according to the council resolution.
Huguley said Opelika did not actively recruit Hana Factory AutomationÂ to the city, citing an agreement with the city of AuburnÂ to not lure each otherâ€™s companies.
While initially employing 40 people, the company could eventually expand to 55 employees over the initial three-year period, according to the council resolution. HanaÂ also intends to make additions to the facility and add new manufacturing equipment.Â The facilityâ€™s estimated completion date is Aug. 31, 2012.