Gestamp To Invest Over $94M In Tennessee Expansion

The automotive OEM supplier will create 260 new jobs as it expands operations at its Hickory Valley Road and Ferdinand Piech Way plants in Chattanooga, TN.


https://businessfacilities.com/2020/11/gestamp-to-invest-over-94m-in-tennessee-expansion/
The automotive OEM supplier will create 260 new jobs as it expands operations at its Hickory Valley Road and Ferdinand Piech Way plants in Chattanooga, TN.
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Gestamp To Invest Over $94M In Tennessee Expansion

The automotive OEM supplier will create 260 new jobs as it expands operations at its Hickory Valley Road and Ferdinand Piech Way plants in Chattanooga, TN.

Gestamp To Invest Over $94M In Tennessee Expansion

Automotive original equipment manufacturer (OEM) supplier Gestamp will invest $94.7 million to expand operations at its Hickory Valley Road and Ferdinand Piech Way plants in Chattanooga, TN. The project, Gestamp’s third expansion in the past 10 years in Chattanooga, will create 260 new jobs in Hamilton County over the next five years.

Gestamp
(Photo: TNECD)

“Gestamp is proud of continuing to grow our operations in Chattanooga with a third expansion that will enable us to better serve our customers in the U.S. Region and further create jobs to live up to our commitment to the Tennessean workforce development,” said John Petroni, Gestamp US President. “This investment in state-of-the-art manufacturing technology and a skilled talent means even more as it happens despite the pandemic impact on our economy. We would like to thank, once more, the Tennessee Department of Economic and Community Development, Hamilton County and the City of Chattanooga for their consistent support to Gestamp in Chattanooga.”

Gestamp provides structural metal stampings and welded assemblies to automotive OEMs. As part of this expansion, the company plans to add to both facilities for increased capacity due to new electric vehicle production. In addition, both plants will undergo retrofitting, weld assembly and robotics updates.

Gestamp has over 100 plants worldwide. The company focuses on producing parts that continually increase vehicle safety while also reducing overall weight and environmental impact that results from production processes.

“Tennessee is known as a global leader in automotive manufacturing, and it is because of companies like Gestamp that our state’s automotive industry continues to grow and excel,” said Governor Bill Lee. “Gestamp’s third expansion in ten years shows their commitment to Chattanooga and confidence in Tennessee’s skilled workforce.”

Since 2015, the Tennessee Department of Economic and Community Development (TNECD) has supported 46 economic development projects in Hamilton County, resulting in approximately 6,800 job commitments and nearly $2 billion in capital investment.

“We congratulate Gestamp on its third expansion in Chattanooga over the past ten years,” said TNECD Commissioner Bob Rolfe. “Tennessee is home to more than 900 automotive suppliers that support a number of global automakers including our state’s three OEMs. We appreciate Gestamp for its continued commitment to Tennessee and the 260 new jobs that will be created as a result of this project.”

“I could not be happier to learn of yet another Gestamp expansion! Gestamp is an important supplier to the southeast automotive industry and the fact they have chosen Enterprise South as their expansion focus is an important decision that has a signifi”cant impact on local families and business,” said Hamilton County Mayor Jim Coppinger. The impact of their good family wage jobs ripples throughout this community as does their interaction with local education providing their next generation of workers.”

“A strong workforce is vital for the future of economic investment,” said Chattanooga Mayor Andy Berke. “Gestamp has created an innovative work-based learning program that is preparing the next generation to support Chattanooga’s new and existing business community. I’m excited Gestamp is continuing to expand and invest in Chattanooga.”

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