A Brazilian machinery manufacturer plans to construct a new factory in Franklin County and hire 73 new workers.
Torcomp USA LLC will construct a 16,400-square-foot manufacturing plant in Greene Township. The company, which specializes in making parts for vehicle and systems makers, will invest more than $9 million in the project, according to a news release from Gov. Tom Corbett.
It is the company's first plant in North America. It is based in Sao Paulo, and the American office will be at 1900 Wayne Road, according to the Pennsylvania Department of State.
The company received a funding proposal from the Department of Community and Economic Development, including a $75,000 Pennsylvania First Program grant, according to the release. Also, the Pennsylvania Industrial Development Authority will provide a $640,000, 15-year, low-interest loan at 2.25 percent to Franklin County Area Development Corp. on behalf of Torcomp.
The company also has been encouraged to apply for a $3 million low-interest loan from the Machinery and Equipment Loan Fund, according to the release. 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 a significant project for Franklin County and we appreciate the support and assistance from the Department of Community & Economic Development," L. Michael Ross, president of FCADC, said in the release.
The development is tied to a trip to Brazil and Chile that Corbett took last spring. Since then, the Governor's Action Team has been working on hammering out details for the project, according to the release.
"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," Fabrizio Giovannini, Torcomp president, said in the release. "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."