Troy, Michigan-based Gestamp North America, an auto parts manufacturer, will invest $100 million in a South Charleston, West Virginia, manufacturing facility, creating an estimated 700 jobs.
The firm, a subsidiary of Spain-based Gestamp Automocion, plans to reopen the 1-million square-foot building that once housed the former South Charleston Stamping and Manufacturing Plant.
"Immediately the City of South Charleston will see employees moving onto the site, applications being accepted and investment made in the local economy," said Jeff Wilson, President and CEO of Gestamp.
"This is a tremendous opportunity not only for the Kanawha Valley but for the entire State of West Virginia," said Gov. Ray Tomblin. "This was a collaborative effort between Gestamp, Park Corporation, the City of South Charleston, the Kanawha County Commission and the State of West Virginia. We all worked together to make this opportunity a reality."
"Working with city leaders we are beginning to see the fruits of our labors to develop a business climate that will bring more businesses to South Charleston," said Mayor Frank Mullens.
"When it was announced the stamping plant would close years ago many thought the jobs would be gone forever, and many lost hope," said Kent Carper, President of the Kanawha County Commission. "We now know, because of reform efforts of then Senate President Earl Ray Tomblin, then Governor Joe Manchin and the Kanawha County delegation, jobs are returning to the Kanawha Valley."
As part of an incentive package, West Virginia Economic Development offered job training, relocation loans and tax breaks based on job creation, while the city offered property tax abatements and other incentives.