Ruud Lighting,recently acquired by Cree,is investing$24.5 million in a 208,000 sq ft expansion to its manufacturing facility in Racine Wisconsin.The expanded facility,which will house manufacturing lines for new and existing LED lighting products,is expected to create 469 new full-time jobs over the next four years.
"Cree's recent acquisition of Ruud Lighting and its BetaLED(R)products brought together two leading LED lighting companies under one roof,"said Chuck Swoboda,chairman and CEO of Cree."Last month this facility shipped its 500,000th LED luminaire–further evidence of the market demand for the latest LED technology and a need to expand our facilities to maintain our leadership of the LED lighting revolution."
"This is exciting news for the lighting industry and Racine County,"said Christopher Ruud,president of Cree's Ruud Lighting subsidiary."Beyond Cree's dedication to advancing LED lighting technology,it's a long-term investment in the people of Racine County and the community's manufacturing base."
The expansion has been aided by American state,county and village incentives,based on creation of new jobs,that will total$4 million.The entire incentive package totals$6.5 million,though will be scaled back if hiring goals are not met.
Read the rest here:Ruud expands US operation
