SANJO Corte Fino, a fineblanking manufacturer based in Barcelona, Spain, will invest $17.5 million to establish its North American headquarters in Virginia Beach, Virginia. The company plans to hire 85 associates.
The company designs and constructs progressive dies and stamping parts, assembles stamping parts, produces components with fineblanking and heat treatment processes, and performs final machining. SANJO will supply specialty fineblanking metal components to STIHL Inc, also headquartered in Virginia Beach, as well as to tier-one automotive suppliers.
Virginia Economic Development Partnership worked with the City of Virginia Beach to secure the project for Virginia. Governor McAuliffe approved a $250,000 grant from the Commonwealth’s Opportunity Fund to assist the City with the project.
The company will receive benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program. SANJO will also be eligible to receive sales and use tax exemptions on manufacturing equipment. Funding and services to support the company’s employee training activities will also be provided through the Virginia Jobs Investment Program.
Speaking at today’s event, Governor Terry McAuliffe said “I am pleased to congratulate SANJO for their expansion and applaud their decision to establish their new North American headquarters in the best shipping region along the eastern seaboard. This is a significant win for the City of Virginia Beach and the entire Hampton Roads area and speaks to the region’s top-tier workforce and competitive business advantages. SANJO will be a great corporate partner in our continuing efforts to build a new Virginia economy, and we look forward to their success.”
“Advanced manufacturing is a critical business sector whose growth contributes to the diversification of the Commonwealth’s economy,” said Secretary of Commerce and Trade Maurice Jones. “We are thrilled SANJO has chosen Virginia Beach as its North American home. The company will greatly benefit from Virginia Beach’s premier infrastructure, proximity to the Port of Virginia and best-in-class business environment, and we look forward to working with them as they settle into the region.”