Gainesville welcomed a new family-owned business to the area Friday morning.
Lupold LP, headquartered in south Germany, joins 370 other German companies that have come to the state, according to a release.
“International investment is critical to our economy and I’m encouraged that the state’s commitment to forging international relationships, a strong pro-business environment and close-knit partnerships in our communities is helping companies like Lupold find success in Georgia,” Gov. Deal said in the release.
A representative from his office presented Lupold with welcoming gifts from the governor.
According to the release, Lupold is one of 41 international firms with North American operations in Gainesville and Hall County.
Several representatives and elected officials attended the grand opening and held a ribbon-cutting ceremony.
The company manufactures hydraulic systems and valves. It has hired 12 employees for the initial production phase that began in April.
“Overall, we will be investing nearly $9 million in this facility over the next five years and hope to expand our team to 60 employees,” Lupold President and CEO Wilma Lupold said.
The now empty warehouse will one day be full of machinery, assembly lines and testing stations. The next step, metal cutting manufacturing for valve bodies, will begin in 2013.
The company moved into an existing building on Chestnut Street in Gainesville, across from Featherbone Communiversity.
“During our search for the right production location we were welcomed to this county, to this state, and this city and received tremendous support,” Lupold said.
She said it has been a dream come true to move the company to the U.S. Lupold said the plan was to open a facility in 2009 but the project was put on hold because of the world economic crisis.
Lupold said the project was set into motion after signing a contract with their customer, Bosch Rexroth, in South Carolina.
Lupold was founded in Germany in 1948 by Lupold’s grandfather. In the beginning, the company made needles for sewing machines and parts for guns.
Lupold has two facilities in Germany with more than 200 employees.
The company began making hydraulic parts in 1956. Their parts are used in a wide array of industries ranging from building technology, automotive, health and beauty, oilfiring, stationary and mobile hydraulics, wood, fitting and handling technology.
“There is a lot going on in this community, with investments like this, creating jobs like this and entrepreneurship like this. This is really and truly the American dream,” Sen. Butch Miller said.