Aspen Technologies, Inc. will invest $5.1 million to locate a new polyurethane foam molding plant in the Manchester Tennessee Industrial Park. The firm plans to double its molding capacity and create 161 new jobs over the next five years in Coffee County.
“Aspen Technologies is very excited to be expanding its manufacturing into Manchester, Tennessee
,” Aspen Technologies Vice President Keith Quinn said. “It has been a pleasure working with the Industrial Board, city, county and state officials to make this expansion possible. The beautiful state of Tennessee along with its friendly people, especially the people of Coffee County, made the decision to locate in Manchester very easy. As we gear up our operations, we will continue to look for other opportunities to bring more work back home.” Aspen Technologies will begin the hiring process in June and start production in the new facility the first week of July.
The company was founded in 2003 to develop, manufacture and assemble specialized polyurethane foam products for the automotive industry
as well as heavy truck and sport recreation markets. Aspen Technologies’ customer base is primarily automotive. In recent years, however, the company has been awarded a considerable amount of non-automotive based business and intends to shift approximately 25 percent of its sales to non-automotive related sectors, state officials said.
“I want to welcome Aspen Technologies to Tennessee and thank the company for choosing Manchester for its newest manufacturing operations,” Governor Bill Haslam
said. “When a company chooses Tennessee for a new facility, it sends a strong message about our business-friendly environment, and today’s announcement supports our goal to make Tennessee the No. 1 location in the Southeast for high quality jobs.”
Aspen Technologies strives to bring jobs back to the United States and is currently working with two companies to take over business that is being produced in China, state economic development officials said.
“Tennessee is committed to expanding our state’s superior workforce as evidenced by the nearly 6,000 new manufacturing jobs created here in the past year alone,” Community Development Commissioner Bill Hagerty said. “As we continue to compete on a global basis
, we remain focused on our competitive strengths as well as winning jobs from our foreign competitors. I appreciate Aspen Technologies’ efforts to return high quality manufacturing
jobs to Tennessee, and for its investment in our state and its citizens.”