17 April 2014

Torcomp to invest $9 million and create 73 new jobs in Pennsylvania

17 April 2014 - Brazilian company Torcomp will establish its first U.S. facility in Franklin County, Pennsylvania creating 73 new jobs over the next three years. Torcomp will construct a 16,400-square-foot manufacturing plant in Greene Township and plans to invest more than $9 million at the new site.

“I led a delegation to Brazil and Chile last spring to increase Pennsylvania’s international presence and bring new job-creating projects back to the commonwealth,” Pennsylvania Governor Tom Corbett said. “Today’s announcement will result in Torcomp bringing its first manufacturing facility to Pennsylvania, as well as 73 new jobs.”

The company received a funding proposal from the Department of Community and Economic Development including a $75,000 Pennsylvania First Program grant. The Pennsylvania Industrial Development Authority (PIDA) will provide a $640,000, 15-year, low-interest loan at 2.25 percent to Franklin County Area Development Corporation (FCADC) on behalf of Torcomp. The company has also been encouraged to apply for a $3,000,000 low-interest loan from the Machinery and Equipment Loan Fund. 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 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,” said Fabrizio Giovannini. 

Founded in 1957, Torcomp is headquartered in Sao Paulo, Brazil and is a manufacturer of machined parts and small to mid-size mechanical assemblies using advanced CNC machining processes. Torcomp supplies a wide range of companies but it specializes in serving vehicle manufacturers.

Source: Pennsylvania Department of Community & Economic Development