Expect to see Jaguar-Land Rover in International Falls for a while longer.
They’ve been cold-weather testing their vehicles in the city since 2012.
The Koochiching Economic Development Authority has extended a lease agreement with the British automaker for another five years.
Director Paul Nevanen says the ability to sign JLR to such a lengthy deal is somewhat of an anomaly in the automotive industry.
“They don’t like to sign long-term anything. So for JLR to commit, I think it speaks about the facility that we’ve helped create for them here and the comfort level they have with us,” says Nevanen.
Nevanan says the financial terms were not disclosed but have been changed since the original agreement.
The initial lease was designed to help offset the cost of expanding the cold-weather testing facility located at the Falls International Airport to meet JLR’s needs.
“Payment was for the facility and supporting services, and then a portion of that was to help pay for the cold box. The second extension is actually just going to be for the utilization of the two cold boxes and the shop.”
There are also inflationary increases built in to reflect rising prices.
KEDA board member Mike Hanson is pleased to see JLR continue its testing program. He says the compant has provided many benefits to the area.
“The whole community and the whole county is pleased that they’re here. They provide not only payments, but provide a lot of business in town and jobs for local people,” says Hanson.
