SANJO to Invest $3.2M to Expand North American Headquarters in Virginia Beach
The City of Virginia Beach is pleased to announce that SANJO plans to invest $3.2 million to expand its North American manufacturing headquarters in Virginia Beach. The expansion will retain 10 jobs and create 40 new jobs with an average annual wage of $60,000 to $70,000. The Phase II expansion will add more than 23,000 square feet to the existing footprint, totaling over 50,000 square feet of space upon completion in 2024.
"SANJO is excited to expand and deepen our roots in Virginia Beach," said Santiago Cruz, CEO of the Sanjo Group. "With the expansion, our team is growing SANJO's North American portfolio and looking forward to many more years of success."
The Virginia Beach Development Authority (VBDA) voted to award SANJO an Economic Development Incentive Program grant (EDIP) of $350,000 for the expansion. The SANJO EDIP award for Phase II was based on job creation and retention, plus capital investment. Total project Capital Investment is $9 million.
SANJO evaluated other options for expansion in the U.S. including relocating to Florida or Tennessee. Working with the City and the VBDA, they chose to remain in Virginia Beach and to nearly double the square footage of their current space. This keeps them in close proximity of their primary customer, STIHL, Inc., a major local manufacturer also located in Virginia Beach.
"We are delighted that SANJO chose to continue to invest in Virginia Beach and to expand their presence here," said Virginia Beach City Manager Patrick Duhaney. "SANJO has been a valued member of our business community since locating its North American headquarters here in 2016. We look forward to their continued growth and our partnership with them."
SANJO is a specialty type metal stamping manufacturer based in Barcelona, Spain. SANJO is a family-owned business, founded in 1967. In July 2016, SANJO selected Virginia Beach as its North American manufacturing headquarters. Since then, they have invested $17.5 million in real estate and equipment in the City of Virginia Beach.
"This is a big win for Virginia Beach and a testament to the trust SANJO has in us," said Taylor Adams, deputy city manager and director of Economic Development for the City of Virginia Beach. "It is also an example of our commitment to attracting and retaining both national and international businesses, stimulating capital investment and creating jobs in our city."
SANJO is a multinational metal-stamping company headquartered in Barcelona, Spain. The company specializes in precision technology and, in particular, the manufacturing of fineblanking parts. SANJO has five production plants – four in Spain and one in Virginia Beach – with four sales offices located in Barcelona, Stuttgart, Shanghai, and Virginia Beach. For more information about SANJO, visit www.sanjogroup.com/en.
The mission of the Virginia Beach Department of Economic Development is to attract and retain national and international businesses to stimulate capital investment and create jobs.
For more information, visit www.yesvirginiabeach.com.