PA: Brazilian Co., Torcomp, to Create 73 Mfg. Jobs, Build New Facility
21 Apr, 2014
Continuing to advance his JOBS1st PA initiative, Governor Tom Corbett announced that Torcomp USA, LLC, a machinery manufacturer, will establish its first U.S. facility in Franklin County, a move that will create 73 new jobs.
“I led a delegation to Brazil and Chile last spring to increase Pennsylvania’s international presence and bring new job-creating projects back to the commonwealth,” Corbett said. “Today’s announcement will result in Torcomp bringing its first manufacturing facility to Pennsylvania, as well as 73 new jobs.”
Torcomp will construct a 16,400-square-foot manufacturing plant in Greene Township, Franklin County. The company plans to invest more than $9 million at the new site and has also committed to creating at least 73 new jobs over the next three years.
The company received a funding proposal from the Department of Community and Economic Development including a $75,000 Pennsylvania First Program grant.
The Pennsylvania Industrial Development Authority (PIDA) will provide a $640,000, 15-year, low-interest loan at 2.25 percent to Franklin County Area Development Corporation (FCADC) on behalf of Torcomp. The company has also been encouraged to apply for a $3,000,000 low-interest loan from the Machinery and Equipment Loan Fund. The company has accepted the funding proposal, but must still apply for each loan and grant and agree to the terms prior to award receipt.
“This is the first investment of Torcomp outside Brazil. It is a big step for a company like ours and, without the support of the Pennsylvanian Government, FCADC and the local community, it would probably be impossible to implement,” said Fabrizio Giovannini. “We still have a lot of work ahead, but we believe that our Chambersburg plant is an essential part of the future of our business.”
The project was coordinated by the Governor’s Action Team, an experienced group of economic development professionals who report directly to the Governor and work with businesses that are considering locating or expanding in Pennsylvania in collaboration with the FCADC.
“This is a significant project for Franklin County and we appreciate the support and assistance from the Department of Community & Economic Development,” said L. Michael Ross, President, FCADC.
Founded in 1957, Torcomp is headquartered in Sao Paulo, Brazil and is a manufacturer of machined parts and small to mid-size mechanical assemblies using advanced CNC machining processes. Torcomp supplies a wide range of companies but it specializes in serving vehicle manufacturers.
For more information on Torcomp, USA, LLC visit www.torcomp.com.br.
In 2012, Gov. Corbett launched JOBS1st PA as a comprehensive roadmap to economic recovery that harnessed the state’s resources and talents to prioritize private-sector job creation and retention. Today, Pennsylvania's unemployment rate stands at a five-year low and jobs have been growing on a consistent basis for nearly four years.
For more information about Corbett’s commitment to job creation, visit www.pa.gov.