Commercial truck maker Navistar will build a new $250 million manufacturing facility in Texas as part of the Illinois-based company’s four-year plan to grow its market share.
The investment, which is contingent on incentive approvals, will create about 600 new jobs in the San Antonio area, the company said Thursday. The state is providing a $2.27 million grant to Navistar from its Texas Enterprise Fund.
Navistar’s investment means more than $1 billion in new projects have been announced in recent weeks for the fast-growing San Antonio region. Earlier this week, Toyota said it will spend $391 million on technology upgrades at its Tundra and Tacoma truck plant in San Antonio to go along with a new $400 million factory being built by one of its suppliers in nearby Cibolo.
“Over the last five years, Navistar has made significant investments to improve our position in the market,” Navistar CEO Troy Clarke said in a statement. “This investment will … improve quality, lower costs and provide capacity to support anticipated industry growth.”
The new plant will produce a variety of heavy-duty vehicles to support Navistar’s existing truck assembly plants in Springfield, Ohio, and Escobedo, Mexico, the company said.
