- Automotive OEM supplier to create 260 new jobs
- Company will invest nearly $95 million in expansion
NASHVILLE, Tenn. – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Bob Rolfe and Gestamp officials announced today that the company will invest $94.7 million to expand operations at its Hickory Valley Road and Ferdinand Piech Way plants.
The project, Gestamp’s third expansion in the past ten years in Chattanooga, will create 260 new jobs in Hamilton County over the next five years.
Gestamp provides structural metal stampings and welded assemblies to automotive original equipment manufacturers (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.
Since 2015, TNECD has supported 46 economic development projects in Hamilton County, resulting in approximately 6,800 job commitments and nearly $2 billion in capital investment.
“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. Gestamp’s third expansion in ten years shows their commitment to Chattanooga and confidence in Tennessee’s skilled workforce.” – Gov. Bill Lee
“We congratulate Gestamp on its third expansion in Chattanooga over the past ten years. 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.” – TNECD Commissioner Bob Rolfe
“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 US Region and further create jobs to live up to our commitment to the Tennessean workforce development. This investment in 0state-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.” – John Petroni, Gestamp US President
“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 significant impact on local families and business. 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.” – Hamilton County Mayor Jim Coppinger
“A strong workforce is vital for the future of economic investment. 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.” – Chattanooga Mayor Andy Berke
“TVA and EPB congratulate Gestamp on its decision to expand operations and create new jobs in Chattanooga. Helping to foster new job opportunities and investment in the Valley is the core of TVA’s mission of service and we are proud to partner with Chattanooga Area Chamber of Commerce, Hamilton County Government, City of Chattanooga and Tennessee Department of Economic and Community Development to support companies, like Gestamp further their commitment to continued business success in the region.” – John Bradley, TVA senior vice president of Economic Development
“These jobs are great news for Hamilton County. This investment is a testament to businesses’ confidence in Southeast Tennessee’s strengthening economy. Tennessee is and will continue to be a great place to live and do business. I congratulate local officials, Governor Lee, Commissioner Rolfe and all others who helped secure these jobs. I look forward to partnering with you in the future to ensure continued economic growth for our area.” – Sen. Bo Watson (R-Hixson)
“This expansion demonstrates the strength of Chattanooga’s automotive manufacturing industry and the talented workforce available in Hamilton County. Thanks to Gestamp for their continued investment in our community and their commitment to advancing new automotive technologies for the 21st century. Let’s continue to work together for success for our region for many years to come.”– Rep. Robin Smith (R-Hixson)
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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 Tennessee, the department seeks to attract new corporate investment to the state and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tnecd.com. Follow us on Twitter and Instagram: @tnecd. Like us on Facebook: facebook.com/tnecd.