Wyomissing, Pennsylvania-based Carpenter Technology Corporation (CTC), a producer of premium alloys and stainless steel, announced Thursday that Limestone County, Alabama has been selected as the site of a new 400,000-square-foot manufacturing facility.
The facility, which the company explains is being built in response to growing demand in the aerospace and energy industries, will be capable of producing approximately 27,000 tons per year. The 230-acre site is located near Athens, Alabama in the Huntsville Metropolitan Statistical Area. According to the company press release, the flat, open tract of land is in an area that will allow relatively easy construction, flexibility for future growth and expansion, and access to a strong pool of skilled workers.
"The site selection process began with about 250 worldwide locations, and we narrowed it down to a dozen, including two Pennsylvania locations," said William A. Wulfsohn, President and CEO of CTC. "After further analyzing state, county and local incentives, utility costs, and labor resources, we felt Limestone County provided the best opportunity for us to expand our core business. The state of Alabama and local government entities put together a very compelling package including various tax initiatives, infrastructure grants, and training programs."
The facility is expected to be operational in about 30 months, and has a total cost of approximately $500 million including remelting, forging, and associated finishing and testing capabilities.