Company Name: Loc Performance Products, LLC
Location: St. Marys
Site Region: Western
Industry Sector: Advanced Manufacturing
Company Profile: Loc Performance Products designs, develops, and manufactures CNC machined components and assemblies for drivetrain and suspension systems used in defense, heavy truck, and heavy equipment industries.
Company Website: https://www.locperformance.com/
Project Summary:
Type of Project: Acquisition
Jobs:
- Jobs committed: 250
- Jobs retained: 450
Capital Investment: $40,000,000
Timetable: In December 2021, Loc Performance finalized the acquisition of Continental’s St. Marys, Ohio facility, bringing it under U.S. ownership.
Company Need:
Demand for Loc’s products led the company to search for new space to increase production. The acquisition of the St. Mary’s site brought a talented workforce and a facility that included room for expansion.
Why Ohio?
Ohio is home to an array of federal & military installations supporting over 380,000 jobs and delivering nearly $40 Billion in gross regional product. Surrounding those installations is an industrial base that represents $69 billion in total economic activity, accounting for nearly 6% of the state’s economy.
Ohio offered Loc Performance Products workforce expertise, a strategic location, and an operation that was already a Department of Defense contractor. The purchase of the 800,000+ square-foot facility in St. Marys allowed Loc Performance to expand its manufacturing capabilities by integrating rubber application processes in-house and increasing its market share in the agriculture commercial business and military track markets. Loc Performance is a prime defense contractor with the United States Army. This project allows Loc Performance to continue to support its military customers and expand its in-house abilities.
Collaborators:
JobsOhio, Ohio Department of Development, DDC, City of St. Mary’s