SKF Group to Build New Research and Development Center in Naperville
- Aug 13, 2014
SKF USA Inc., a SKF Group subsidiary plans to build a two-story, 130,000-square-foot industrial facility at 1203 Warrenville Road in Naperville, Ill. City and state officials recently revealed that the Swedish-based manufacturer has chosen the Chicago suburb for its new North American R&D center. Headquartered in Gothenburg, SKF is currently the largest bearing manufacturer in the world.
“I could not be happier at SKF Group’s decision to become a part of the Naperville community”, said Mayor A. George Pradel. “Naperville’s reputation is second to none, and SKF’s decision to move here showcases what this community can do for businesses.”
The new research and development center will house scientists, engineers and administrative staff, and is expected to create 40 full-time jobs within the next two years. The development site is conveniently located in close proximity to the Interstate-88 business corridor.
“The tech corridor along I-88 has long been a driving force in getting new companies to come to Illinois, and Naperville in particular,” says Christine Jeffries, president and CEO of the Naperville Development Partnership.
The Swedish manufacturer received a $2.2 million state initiative package and an additional $20,000 grant for job training, under Illinois’ Economic Development for a Growing Economy (EDGE) program. In order to receive the credits, SKF has to invest at least $18.6 million in the Naperville location over the next 10 years. The company disclosed that the Naperville facility might eventually house more than 200 employees.
“The Naperville-based R&D center will strengthen our global network of technical centers that support each of our key regions. It provides a central location to some of our most significant U.S. customers, proximity to many local world class research universities and a highly-educated workforce that is critical to our knowledge engineering efforts,” says Tom Johnstone, SKF president and CEO.
Naperville officials will discuss further details and rezoning approvals at the City Council’s August 19 meeting. The company would need to annex and rezone about 3 acres of unincorporated DuPage County land.
Logo courtesy of SKF Group