SANJO Corte Fino to Invest $17.5 million to Establish a North American Headquarters in Virginia Beach

July 6, 2016

Governor Terry McAuliffe announced today that SANJO Corte Fino, a fineblanking manufacturer based in Barcelona Spain, will invest $17.5 million to establish a 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 throughout North America. Virginia successfully competed against Kentucky for the project, which will create up to 85 new jobs over three years.

“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.”

“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. 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.”

“We’re excited that SANJO recognizes the benefits of locating a headquarters operation in Virginia Beach,” said Virginia Beach Economic Development Director Warren D. Harris. “We know they will find highly skilled workers here, and will be able to serve the entire North American market place from Virginia Beach. Growing our international business community is important for everyone, as our existing companies gain access to a broad new range of potential vendors or customers.”

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.

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 also 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 at its July meeting.

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.

The mission of the Virginia Beach Department of Economic Development is to attract and retain national and international businesses to stimulate capital investment and create jobs. Virginia Beach is the most populous city in Virginia with a population of 450,000, and it is the 37th largest in the United States. It is recognized as one of the Best Run Cities in America by 24/7 Wall St. The Department of Economic Development received re-accreditation through the International Economic Development Council in 2016 and is one of only 29 economic development organizations in the world to have this recognition. It is listed among the Top Five Overall Mid-sized American Cities of the Future, Top 10 for Economic Potential and Top Five for Infrastructure by fDi magazine. CNNMoney.com ranked Virginia Beach as the Easiest Place to Start a Business and the 2nd Most Business-Friendly City in the country. For more information, visit www.yesvirginiabeach.com.

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