STS Group AG to establish first U.S. location in Wythe County, Virginia, create 120 new jobs
Topics: STS GROUP VIRGINIA
The new facility, operating as subsidiary STS Group North America, will supply Volvo Trucks in Pulaski County and other truck and automotive facilities throughout the Midwest and Southeastern U.S. markets. Virginia successfully competed with North Carolina for the project, which will create 120 new jobs.
STS Group AG, headquartered in Hallbergmoos, Germany, develops, manufactures, and supplies products and solutions for components made of plastic or composite material (“hard trim products”) for the automobile and trucking industries.
STS Group’s customer base includes a number of major automobile and commercial vehicle producers. The company operates 12 plants in four countries on three continents, with production facilities in its key regional markets of Europe, China, and the Americas.
The Virginia Economic Development Partnership (VEDP) worked with Wythe County and the Joint Industrial Development Authority (JIDA) of Wythe County to secure the project for Virginia. Governor Northam approved a $500,000 grant from the Commonwealth’s Opportunity Fund to assist Wythe County with the project.
The Virginia Tobacco Region Revitalization Commission approved $80,000 from the Tobacco Region Opportunity Fund for the project. The company is also eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development.
Support for STS Group North America’s job creation will be provided through the Virginia Talent Accelerator Program, a workforce initiative created by VEDP in collaboration with the Virginia Community College System and other higher education partners, with funding support from the Northam Administration and the Virginia General Assembly.
Launched in 2019, the program accelerates new facility start-ups through the direct delivery of recruitment and training services that are fully customized to a company’s unique products, processes, equipment, standards, and culture. All program services are provided at no cost to qualified new and expanding companies as an incentive for job creation. ■