VIRGINIA BEACH, Va. - Governor Terry McAuliffe announced Wednesday that SANJO Corte Fino, a fineblanking manufacturer based in Barcelona, will invest $17.5 million to make Virginia Beach its North American headquarters.
Virginia competed against Kentucky for the project, which will create up to 85 new jobs over three years.
SANJO will supply specialty fineblanking metal components to STIHL, Inc., as well as to tier-one automotive suppliers throughout North America.
"Today is a big win for the City of Virginia Beach and the entire Hampton Roads region," said Governor McAuliffe. "SANJO's decision to locate its North American headquarters in Virginia Beach is a testament to the region's strong assets and outstanding workforce. We are proud to add another international company to the Commonwealth's growing corporate roster. SANJO will be a great partner in our efforts to diversify and build a new Virginia economy, and we look forward to their success."
Founded in 1967, SANJO is a family-owned manufacturer expanding into the North American market for the first time.
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 currently exports to 27 countries on four continents.
“SANJO is a fantastic addition to the Virginia Beach business community. Fineblanking technology is the perfect example of advanced manufacturing. Using high-pressure precision stamping, they produce precision parts that cannot be made by any other stamping process. We appreciate SANJO’s trust in Virginia Beach for its first home in North America. This announcement is the culmination of several years of work by the city, SANJO and our regional and state allies, including our friends at STIHL Inc," said Virginia Beach Mayor Will Sessoms.
The City of Virginia Beach worked with the Virginia Economic Development Partnership 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 be provided through the Virginia Jobs Investment Program. The Virginia Beach Development Authority will take action on a local Economic Development Investment Program grant request in July.