Magna's new Mesa automotive facility could create hundreds of jobs

Magna's new Mesa automotive facility could create hundreds of jobs

Canadian auto manufacturing giant will occupy huge East Valley space at new industrial park

By Ron Davis 

One of the world's largest automotive suppliers is making a big commitment in the southeast Valley.

The Business Journal first reported in May that a subsidiary of Canada-based Magna International had signed a lease at Mesa's Power Industrial Park, though few details about the expansion were known then. According to an announcement on Aug. 8 from the Greater Phoenix Partnership and Arizona Commerce Authority, that expansion is expected to create hundreds of new jobs.

GPEC and ACA confirmed that a subsidiary of Magna International (NYSE: MGA),is building out a 230,000-square-foot space at Power Industrial Park.

“The collaboration we have already experienced with the local community has been exceptional and further strengthens our commitment to driving innovation and delivering value to our customers,” said Eric Wilds, Magna's chief sales and marketing officer in a statement.

The expansion by Magna, which will be a "multimillion-dollar investment," adds to a pipeline of emerging and established firms in an automotive ecosystem in the Valley that already includes Lucid and Nikola. Magna International was the fourth largest auto supplier in the world as of 2023, according to Automotive News.

“Magna’s arrival in Mesa bolsters an already adept regional manufacturing ecosystem,” said GPEC President and CEO Chris Camacho in a statement. “As Greater Phoenix continues to drive clean technology innovation at a national scale, Magna’s new facility will allow for more expansive growth in the automotive sector.”

According to its website, the company currently lists 16 open, full-time positions for its Mesa location.

Magna Steyr had a partnership with Los Angeles-based electric vehicle maker Fisker Inc. to build its vehicles in Austria, according to L.A. Business First. However, its parent company said in its Q2 2024 earnings call that the company assumes no further production of the Fisker Ocean SUV.

Power Industrial Park's largest building marked as 'leased'

Power Industrial Park is a four-building industrial park that spans nearly 586,000 square feet. The largest building, Building 4, stands just under 230,000 square feet and is marked as "leased" on the project's website.

CBRE Group Inc.'s Jackie Orcutt, Kevin Cosca, Jonathan Teeter, Pete Wentis and Alex Wentis are the listing brokers for Power Industrial. Colliers' Danny Schuster and Brian Gleason represented Magna in its search.

“Magna’s decision to locate its new manufacturing facility in Mesa demonstrates Arizona’s attractiveness for the automotive industry,” said Sandra Watson, president and CEO of the ACA, in a statement. “We are so grateful for Magna’s commitment to Arizona and look forward to supporting their growth as part of our thriving mobility ecosystem.”

Power Industrial was developed by Principal Life, Newport Commercial Partners LLC and Manncor Realty Advisors and broke ground in August 2022, according to previous reporting. Clayco was the general contractor while DLR Group was the architect of Power Industrial.

“The accelerating pace of innovation is fueling growing demand for new products and technologies, and companies like Magna are leading the way,” said Mesa Mayor John Giles in a statement. “Mesa’s strategic investments in education, infrastructure and world-class amenities make us a premier destination for businesses looking to thrive in this dynamic industry. Magna will be a great addition to Mesa, and I am excited to welcome them to our city.”

Magna International shares closed trading at $39.18 per share on Aug. 8, a slight increase for the day.

Final Thoughts:

If you're considering a move to Arizona, Mesa’s new Magna International facility is a game-changer. This major expansion not only brings hundreds of jobs but also cements Mesa’s status as a hub for automotive innovation alongside industry leaders like Lucid and Nikola. With its strategic investments in infrastructure and education, Mesa offers a dynamic community where opportunity and lifestyle thrive—making it an ideal place to call home.