The Joliet City Council has approved a property tax abatement to support a new manufacturing facility by Hyundai Translead, a project expected to bring more than 1,200 jobs and redevelop a vacant industrial site on Youngs Road.
The facility will occupy the former Lion Electric site, which has remained largely inactive since the company shut down the Joliet operations in 2024.
Under the agreement, the City Council approved a 50 percent property tax abatement over five years, matching the same incentive previously granted to Lion Electric. The updated cumulative value of the abatement is estimated at $327,725, based on current property assessments.
Hyundai Translead plans to invest $148 million into the facility. At full capacity, the site is expected to generate over 1,200 jobs and is projected to produce approximately $1 million in annual property tax revenue upon full operation.
Mayor Terry D’Arcy said the investment reflects renewed momentum and confidence in Joliet’s economic future.
“This project brings meaningful job creation, major investment, and fresh energy to our local economy,” D’Arcy said. “It strengthens Joliet’s role as a hub for innovation and industry in Illinois.”
Hyundai Translead, a subsidiary of Hyundai Motor Group, manufactures semi-trailers used across the freight and logistics industries. The company is headquartered in San Diego and has operated in the United States since 1989.
The Joliet facility marks a significant expansion of the company’s U.S. footprint. In addition to the Youngs Road site, Hyundai Translead plans to develop a second location in unincorporated Will County.
Operations at the Joliet facility are expected to begin in late 2026. City leaders say the project will not only reactivate a dormant site but also support long-term economic growth in the region.
