A company that provides engineered thermal management solutions for tooling components in the injection molding and die casting industries, HTS International Corporation will invest $21.4 million to establish its global headquarters and U.S. manufacturing facility at the Pellissippi Corporate Center in Knox County, Tennessee.
In addition to its global and North American headquarters, HTS International plans to house an R&D lab, a metallurgical lab and industrial metal additive manufacturing equipment for production in the facility. The facility will include 10,000 square feet of office space and between 50,000 and 60,000 square feet for R&D and production.
HTS International plans to create 200 jobs during the next four years. Construction of the Knox County facility is expected to begin in early 2017.
“Our core mission for our U.S. operations is making U.S. manufacturers more efficient and competitive on a global scale,” HTS International CEO William Sames said. “East Tennessee is very central and close to the manufacturers we supply. With the increasing automotive presence in the Southeast, we see the Knoxville area as a strategic location for our engineering services.”
“We are seeing our technology revolutionize the die casting and plastic molding industries,” Sames added. “By significantly reducing the cycle time of production, sometimes by 50 percent or more, we are seeing companies reshore production to the U.S. and expand existing U.S. production.”
“Employment in Tennessee’s advanced manufacturing sector has grown more than 33 percent since 2010, four times higher than the nation’s growth average for these high-skilled jobs,” Economic and Community Development Commissioner Randy Boyd said.
“That type of success, fueled by innovative existing companies and the breadth of expertise found in our workforce, helps our state recruit new advanced manufacturing companies. It’s a virtuous cycle that is critical in attracting global companies such as HTS International. I’d like to welcome HTS International to Team Tennessee and look forward to the positive impact the company’s new headquarters and plant will have on Knox County and its residents,” he added.
“Knox County is extremely lucky for HTS International to locate its headquarters, research and development and manufacturing operations in the Pellissippi Corporate Center,” Knox County Mayor Tim Burchett said. “This again stresses the importance of having a ready-to-go business park land so Knox County has a place for next generation technology companies like HTS International. The STEM-rich technology jobs that HTS International will create will provide a better quality of life for our neighbors and for that, I’m grateful.”