Ohio-based automotive supplier Toledo Molding & Die Inc. will spend more than $14 million to establish operations in Beloit, Wis.
TMD is a global supplier of interior components and air/fluid management systems. The plant will supply Fiat Chrysler Automotive's nearby Belvidere, Ill., assembly plant with molded parts for the 2017 Jeep Cherokee, according to a news release from the Wisconsin Economic Development Corp.
The 105,000-square-foot building is in the Wisconsin Stateline Industrial Park. The project calls for creating 118 jobs. WEDC is providing $750,000 in business development tax credits over the next three years, contingent on job creation.
TMD is based in Toledo, Ohio, and operates facilities in Ohio, Tennessee, Michigan, North Carolina and Mexico. The company ranked at No. 38 in the most recent Plastics News survey of North American injection molders, with estimated relevant sales of $225 million.