Engineering and manufacturing company to create 200 new jobs, invest $29 million
NASHVILLE – Tennessee Gov. Bill Haslam, Department of Economic and Community Development Commissioner Bob Rolfe and Protomet Corporation officials announced today that the Oak Ridge-based company will invest $29.3 million to establish a new facility in Loudon County.
Protomet will create 200 new jobs in Loudon over the next five years.
“Protomet has been one of Tennessee’s leading growth companies during the past several years, and I’m pleased to see it expand further with this operation in Loudon,” Haslam said. “East Tennessee’s advanced manufacturing and engineering base continues to grow considerably and the creation of 200 new jobs by Protomet brings us closer to making Tennessee the No. 1 location in the Southeast for high quality jobs.”
“Just four years ago, Protomet more than doubled its presence in its hometown of Oak Ridge,” Rolfe said. “It’s encouraging to see that Tennessee’s strong workforce and advanced manufacturing expertise continue to provide companies like Protomet the ability to expand and grow their operations. I’m incredibly pleased to welcome 200 new high quality jobs in Loudon County.”
Protomet, an engineering, manufacturing and technology company, will rehab a 224,000-square-foot building in Loudon, formerly occupied by Maremont Exhaust Products. Protomet’s Loudon facility will include manufacturing, engineering and R&D capabilities. The company anticipates the Loudon plant will be operational in the first half of 2018.
“Over the past year, we evaluated properties both inside and outside of Tennessee,” Jeff Bohanan, founder and CEO, said. “The former Maremont facility in Loudon County was the right business decision for Protomet. Even though our plan had been to have a single campus in Anderson County, this was a fantastic option for our company, and it allows Protomet to remain entirely in East Tennessee. We will now have facilities in Anderson and Loudon counties – and land next to our current location that will allow for future growth if we need it. It’s a win for everyone involved.”
Since 1997, Protomet Corporation has been a world-class provider of engineering and manufacturing solutions and services. In addition to comprehensive design services, Protomet provides high-precision production, manufacturing and finishing for clients in a variety of markets, including the marine and boating, automotive, homeland security, industrial, energy and power sectors. Protomet has experienced growth in excess of 20 percent annually in recent years.
Four years ago, Protomet more than doubled the size of its Oak Ridge operations when the company opened a $10 million plant expansion that included 22,000 square-feet of new space and high-tech automated manufacturing equipment.
The latest expansion in Loudon County is driven by new demand for Protomet’s products and the need for additional manufacturing and production capabilities. In recent years, Protomet has introduced a new line of boating and marine products under the PTM Edge Watersports brand.
“Protomet has been an excellent corporate citizen and economic driver in Oak Ridge,” Lt. Gov. Randy McNally said. “I am grateful Protomet is continuing its expansion in our state and our region. This is outstanding news for the hard working people of Loudon County.”
“The City of Loudon is proud to locate this high precision metal fabrication manufacturing facility to our community,” Loudon Mayor Jim Greenway said. “This new industry will revitalize an existing building that has been sitting vacant in previous years. These quality jobs will provide numerous opportunities to those living in Loudon County. It is with great honor to welcome Protomet to our community.”
“TVA and Loudon Utilities congratulate Protomet Corporation on its decision to locate in Loudon and create many new quality job opportunities,” John Bradley, TVA senior vice president of economic development, said. “We are privileged to partner with the State of Tennessee and the Loudon County Economic Development Agency to help facilitate Protomet’s expansion in East Tennessee.”
Loudon and Loudon County are represented by Lt. Gov. Randy McNally (R – Oak Ridge), Rep. Kent Calfee (R – Kingston) and Rep. Jimmy Matlock (R – Lenoir City) in the Tennessee General Assembly.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Team Tennessee, the department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Tennessee is the only three-time winner of “State of the Year” for economic development by Business Facilities magazine. Find us on the web: TNECD.com. Follow us on Twitter: @TNECD. Like us on Facebook: facebook.com/TNECD.