Automotive parts manufacturer to open plant in Botetourt
Italian automobile parts manufacturer ELDOR Corp. is planning to open its first U.S. production plant in Botetourt County, creating 350 jobs.
The company manufactures ignition systems, engine control units, braking systems actuators and power management systems for hybrid and electric vehicles.
Gov. Terry McAuliffe approved a $3.2 million grant from the Commonwealth’s Opportunity Fund for the project. McAuliffe met with the company founder in June during a trade mission to Europe after an initial meeting at the SelectUSA Investment Summit in Washington, D.C.
ELDOR has three research and development operations in Italy; production plants in Italy, Turkey, China and Brazil; and technical offices in the U.S., China and Germany.
Pasquale Forte, president and CEO of ELDOR Corp., cited Virginia’s business friendliness, access to the Port of Virginia and education as reasons the company chose Botetourt and Virginia to open its plants.
“We found a community of genuine and collaborative people, focused on supporting investment in a practical way and with great commitment,” Forte said in a statement. “The community has welcomed us with a professional attitude, but also with respect and friendship. We found top-class universities and a great community college, with programs dedicated to the mechatronics sector that will grow excellent young engineers with the skills necessary to run ELDOR’s advanced automated lines.”
In addition to the $3.2 million grant, the company will receive benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program and training and funding from the Virginia Jones Investment program.