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Gestamp Announces $95 Million Investment in Chattanooga Plants

Published at November 25, 2020

Gestamp Announces $95 Million Investment in Chattanooga Plants

  1. $95 million investment
  2. 260 new jobs

Gestamp, a Spanish multi-national engineering company, is investing $95 million into Chattanooga plants 1 and 2. These plants specialize in hot and cold steel stamping that will support Volkswagen and Mercedes Benz electric vehicle production.

Over the next three years, Gestamp will invest $95 million in Chattanooga and create 260 new jobs.

Hamilton County Mayor Jim Coppinger is pleased to learn of this important expansion. “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.”

Gestamp currently employs about 1,000 people across Chattanooga in its three manufacturing plants. In addition to its manufacturing operations, Gestamp is a leader in apprenticeship programming. Gestamp’s innovative partnership with Hamilton County Schools’ unique work-based learning program ensures a strong talent pipeline for generations to come.

“A strong workforce is vital for the future of economic investment,” said Chattanooga Mayor Andy Berke. “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.”

Find more information on Gestamp’s work-based learning program here.

Since 2015, the Chattanooga Chamber has assisted with new business locations and expansions totaling nearly $2.2 billion in investments and over 7,000 jobs.

Quotes

“Gestamp is an innovative leader, paving the way for our city and County’s future workforce. We’re excited to see the company continue to grow with the support of our community partners EPB, ECD and TVA.” – Steve Hiatt, Director of Existing Business Development at the Chattanooga Area Chamber of Commerce

“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 10 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 10 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

“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 (to) further their commitment to continued business success in the region.” – John Bradley, TVA Senior Vice President of Economic Development