The state revealed Tuesday that provided a $1.1 million tax incentive package that helped bring a large Chinese diesel engine manufacturer to Rolling Meadows.
On Monday, Cook County Board President Toni Preckwinkle’s office announced that the Weichai Group will open North American headquarters in the northwest suburb sometime next year.
The company was also granted a Cook County property tax incentive in July, which will allow it to receive reduced property taxes for 12 years. The state incentive comes in the form of a credit against its state income tax liability over a 10 year period and $10,000 for job training.
Weichai plans to open a technology development and testing center. The company manufactures a variety of engines for cars, boats and heavy-duty trucks among others. The redevelopment will include the rehabilitation of an existing 166,772-square-foot office building at 3100 Golf Road.
The state said Weichai will spend at least $8 million renovating the building’s interior and purchasing equipment. Weichai plans to hire 32 people within two years and retain 21 full-time workers from the area. The company had also been considering headquarters in Ontario, Canada.
A statement from Preckwinkle’s office said the new headquarters will also create 51 construction jobs.
Fun fact: The Weichai Group is the first Chinese brand to sponsor the Scuderia Ferrari F1 team. Its logo appears on Ferrari’s F1 cars and on drivers’ uniforms.
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