Tosaf USA Announces First U.S. Facility in Gaston County Creating 75 New Jobs

, N.C. -  Governor Pat McCrory, N.C. Commerce Secretary Sharon Decker and the Economic Development Partnership of North Carolina announced today that Tosaf USA, Inc. is planning to locate its first U.S. manufacturing facility in Gaston County, creating 75 jobs in five years and investing approximately $13.1 million over the next three years in Bessemer City.
 
“That Tosaf USA would choose North Carolina for its first U.S. manufacturing plant says volumes about what we have to offer,” said Governor McCrory. “Tosaf USA found hardworking employees, a great quality of life and the infrastructure needed to be successful.”  
 
The parent company of Tosaf USA, Tosaf Compounds Ltd., is based in Israel and specializes in the manufacturing and marketing of advanced polymers and compounds.  The company’s products are used by plastic molders and processors serving a wide range of industries including automotive, medical, electrical and packaging.  The Bessemer City facility will be its first entry into the U.S. market. 
 
“Foreign investment is crucial to growing North Carolina’s economy,” said Secretary Decker. “When companies such as Tosaf USA choose to locate here, it continues to position our state as a good place to do business across the globe.” 
 
Salaries will vary by job function, but the average annual wage for the new jobs will be $38,895. The Gaston County average annual wage is $35,868.  
 
“We are excited about our entry into the U.S. market and about establishing our operations in North Carolina,” said Amos Megides, chairman of the Board of Tosaf Compounds, Ltd.  “I personally appreciate North Carolina’s assistance in in our search for the best location for our new facility.” 
 
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $225,000. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches. 
 
“These new jobs are great news for Gaston County,” said Senator Kathy Harrington.  “Tosaf USA will be a great addition to our corporate community here.” 
 
“It is positive when new and existing companies are able to create jobs for the hardworking taxpayers in North Carolina,” said Rep. Kelly Hastings.  “I want to personally welcome this company to North Carolina and our area.”   
 
Additional members of Gaston County’s state delegation welcomed Tosaf USA to the region. 
 
“This is exciting news that Tosaf USA would choose Gaston County for its first U.S. manufacturing plant,” said Senator David Curtis.  “I want to be one of the first to welcome this new industry to North Carolina.”  
 
“I want to congratulate Tosaf USA for choosing Gaston County for its new operation,” said Representative Dana Bumgardner.  “These new jobs will be a great boost to the economy for our area.” 
 
“This is great news for Gaston County and for our growing economy here,” said Representative John Torbett.  “Tosaf USA has made a great decision in choosing to locate here in Gaston County.” 
 
In addition to the N.C. Department of Commerce and the Economic Development Partnership of N.C, other partners that helped with this project include: N.C. Community Colleges, Gaston College, Norfolk Southern, Duke Energy, the City of Bessemer City, Gaston County and the Gaston County Economic Development Commission.