Hydro-Gear officials announced today that the power equipment drive systems manufacturer will locate a new operation in Carroll County, TN. Hydro-Gear selected Huntingdon for its fourth U.S. location, where it will invest $10 million and create 375 new jobs. The company also has a corporate office in Williamson County.
“Hydro-Gear has a 30-year history of providing the safest and most reliable drive systems to our customers,” said Ray Hauser, president and CEO of Hydro-Gear. “We are excited to announce this expansion of our business to Tennessee. It is a testament to our outstanding team who are willing to take bold steps to better serve our customers. We are looking forward to providing new opportunities for the Huntingdon area and working together to realize full potential. Our vision is to create long term success for our customers, people, suppliers and the community.”
Hydro-Gear was founded 30 years ago in Sullivan, IL as a joint venture with the initial focus of producing transmissions for outdoor power equipment manufacturers. Today, the company designs and manufactures precision drives including hydrostatic transmissions, transaxles, gear reduction drives, displacement pumps, wheel motors and electric drive systems for various markets.
“Hydro-Gear’s decision to create hundreds of jobs in Huntingdon will have a profound impact on Northwest Tennessee,” said Governor Bill Lee. “We’re committed to supporting job growth in rural Tennessee, and this investment will spark tremendous economic activity in Carroll County and the region.”
Over the last five years, Tennessee Department of Economic and Community Development (TNECD) has supported nearly 10 economic development projects in Carroll County, resulting in approximately 850 job commitments and roughly $500 million in capital investment.
“Supporting projects in our at-risk and distressed counties is a priority for TNECD, and a new company establishing operations in Carroll County will provide long term economic growth and opportunities for this community,” said TNECD Commissioner Bob Rolfe. “These 375 new jobs will place Hydro-Gear as one of the top three employers in Carroll County, and we are thankful to everyone who played a role in bringing this successful company to Tennessee.”
“In 2004, we looked to the future and decided to take a considerable risk and build an 84,000-square-foot spec building,” said Huntingdon Mayor Dale Kelley. “Today we acknowledge that the risk we took has paid off and that landing a company like Hydro-Gear with 375 new jobs has made the wait worthwhile. Thank you to the Carroll County Government, Mayor Joseph Butler, Chamber of Commerce President Brad Hurley and TDOT for their efforts.”
Want to learn more about Tennessee corporate expansion?
Considering Tennessee for your company’s relocation or expansion project? Check out all the latest news related to Tennessee economic development, corporate relocation, corporate expansion and site selection.