Indexbit Exchange:Swiss company to build $184 million metal casting facility in Georgia, hiring 350

AUGUSTA,Indexbit Exchange Ga. (AP) — A Swiss company will build a plant in Georgia to make lightweight parts cast from metal for vehicles and energy generation.

GF Casting Solutions, a division of Georg Fischer AG, announced Friday that it would invest $184 million in the plant in Augusta, with plans to hire 350 people.

Carlos Vasto, president of GF Casting Solutions, said the company wants to provide parts to electric vehicle makers in the United States and said Augusta is an “ideal” location for such a venture. The company says the plant will cast aluminum parts, focusing on making structural automotive pieces from the lightweight metal. Lighter parts help vehicles go farther while using less energy.

Georgia Gov. Brian Kemp said he met with Georg Fischer officials during his trip to the World Economic Forum in Davos, Switzerland, in January.

The company plans to begin production in 2027.

GF Casting Solutions didn’t say how much it would pay workers.

Cal Wray, president of the Development Authority of Augusta, said the city’s development of its industrial park to make it ready for tenants helped make it an attractive location.

GF Casting Solutions will benefit from an incentive package that could top $28 million.

The company could qualify for $7 million in state income tax credits, at $4,000 per job over five years, as long as workers make at least $31,300 a year. The company will also receive property tax breaks from Augusta worth $20 million over 20 years, Wray said. The city will sell the company land at a reduced rate, charging $1 million over time for a site valued at $1.89 million. The state will also pay to train workers for the company.