RICHMOND - Governor Terry McAuliffe announced today that SANJO Corte Fino, a fineblanking manufacturer based in Barcelona, Spain, will invest $17.5 million to establish its North American headquarters in the City of Virginia Beach. SANJO will supply specialty fineblanking metal components to STIHL Inc, also headquartered in Virginia Beach, as well as to tier-one automotive suppliers. Virginia successfully competed against Kentucky for the project, which will create 85 new jobs.
Speaking at today’s event, Governor 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.”
Founded in 1967 and headquartered in Barcelona, Spain, 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 across four continents.
“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.”
The 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.
“SANJO is a fantastic addition to the Virginia Beach business community,” said Virginia Beach Mayor William D. Sessoms, Jr. “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, and we welcome them to our growing roster of international businesses. 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.”
More than 20 international companies have their U.S. or North American headquarters in Virginia Beach, and the region is now home to more than 180 foreign-based firms.
“Having SANJO locate in Virginia Beach means a more diverse Hampton Roads economy,” said John Padgett, Chairman of the Hampton Roads Economic Development Alliance Board of Directors. “It strengthens the region’s reputation as a preferred location for European investment, advanced manufacturing and opportunities for a skilled workforce.”
“SANJO’s decision to develop its North American manufacturing headquarters near The Port of Virginia allows the company to take advantage of our Foreign Trade Zone designation (FTZ 20) and the access to world markets that the port provides,” said John F. Reinhart, CEO and Executive Director of the Virginia Port Authority. “SANJO will be supplying and supporting the manufacturing operations of other port customers. The jobs and economic benefit of SANJO’s decision will have a positive effect on the port and the Commonwealth for many years to come. We are proud to welcome SANJO to the community.”
“I'm so pleased to give a warm Virginia Beach welcome to our newest employer, SANJO,” said Delegate Jason Miyares. “STIHL remains one of our region's most important employers and manufacturers, and we are ecstatic to welcome this dynamic company to our great city that will help supply critical components to their local manufacturing operation. Virginia Beach and Hampton Roads are truly the gateway for the Commonwealth to rest of the world, and we are excited to have them join our community.”
“Virginia Beach continues to be a leader in the Commonwealth as we grow our local economy, and we are honored that SANJO has decided to locate their North American operation here in our city,” said Senator Bill DeSteph. “It is great to see the machinery and tools tax legislation continue to pay off. First, by allowing one of our outstanding corporate citizens, STIHL, to thrive in its Hampton Roads home, and now the addition of SANJO to our great city. We wish them and all our local businesses much success as they grow our region.”