Coroplast Tape Corporation, a maker of adhesive and insulating tapes used in the auto industry, is planning to locate its first U.S. production plant in York County, South Carolina. The $12 million investment is expected to generate 150 new jobs. “After an extensive search by our site location consultants, we found the right location for our initial U.S. manufacturing operations in York County,” said Marcus Söhngen, president of Coroplast Tape Corp. “South Carolina provides us with an excellent business environment and the workforce talent we require to be successful. We appreciate all the support we’ve received from state and local officials in bringing this project to fruition.”
Coroplast, which is headquartered in Germany, will set up the company’s first U.S. manufacturing facility in the York County Spec Building. The company will manufacture a range of adhesive and insulating tapes used in the automotive industry and will start operations in the second quarter of 2014. Since January 2011, more than $5.1 billion and more than 8,500 jobs have been created in the automotive-related sector. During that same period, more than $6.5 billion and more than 15,000 jobs have been created by foreign-based companies. South Carolina is presently rated as the top state for jobs through foreign investment, according to IBM’s Global Location Trends report.
The Coordinating Council for Economic Development approved job development credits. The company will begin hiring for the positions in the fourth quarter of this year.