Mitsubishi Motors Relocating North American HQ From SoCal To Tennessee

ANAHEIM (CBSLA/AP) -- After more than three decades in the Golden State, Mitsubishi Motors is relocating its North America headquarters from Southern California to Tennessee.

In a joint announcement with Tennessee Gov. Bill Lee and Department of Economic and Community Development Commissioner Bob Rolfe, Mitsubishi said the move from Cypress to Franklin, Tennessee, will result in an $18.25 million investment in the region and approximately 200 jobs.

The relocation effort is expected to not only bring the Japanese automaker closer to its sister company Nissan, but also strengthen Tennessee's growing reputation as an epicenter of the automotive sector.

"As we drive toward the future, this is the perfect time for us to move to a new home. While we say farewell to the Golden State with a heavy heart, we're excited to say hello to Music City," Fred Diaz, Mitsubishi Motors North America's president and CEO, said in a statement.

Roughly 25 employees will stay on to oversee the company's western U.S. operations via an office in Orange County, according to the OC Register.

Mitsubishi Motors' North America headquarters has been located in California since 1988.

The company expects to complete the relocations by the end of the year.

(© Copyright 2019 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)