VIRGINIA BEACH – The city will become the North American headquarters for global manufacturing company SANJO Corte Fino, Gov. Terry McAuliffe announced Wednesday.
The specialty metal stamping company will invest $17.5 million to establish its North American headquarters in Virginia Beach, according to the announcement. The company says it will create 85 new jobs over three years. McAuliffe approved a $250,000 grant from the Commonwealth’s Opportunity Fund to help the city land the deal. SANJO will also be eligible to receive sales and use tax exemptions on manufacturing equipment, according to a city release.
“We must bring jobs that pay a good salary,” Mayor Will Sessoms said at a public announcement in the city’s economic development offices in Town Center.
Sessoms said the city is focused on attracting businesses with salaries that allow residents to “buy a home, raise a family and educate their children.”
SANJO, founded in 1967 in Barcelona, creates specialized metal parts and has a presence in almost every continent. It will be supplying components for Virginia Beach-based STIHL Inc. and automotive suppliers throughout North America, the city said.
The Port of Virginia will also assist SANJO through a grant program that targets companies exporting or importing goods through the port. The grant is calculated based on the projected number of new jobs created by the company during the first full year.
“This is exciting, we need more of this,” Councilwoman Shannon Kane said. “It’s really good to have strong partners like STIHL. As the Mayor said, we want those high-paying jobs, and this is going to bring that to the table. So I’m really excited about it.”
The 24,000-square-foot facility will be on Progress Lane, near Naval Air Station Oceana and STIHL headquarters.
SANJO CEO Santiago Cruz said through a translator that the company had worked on establishing its North American headquarters for about four years. Virginia Beach won out over Ohio, Tennessee and Kentucky, he said.
“And we’re totally convinced this has been the correct decision to make,” he said.