US-based Simtec Silicone Parts is investing US$3.5 million and hiring 40 people for its headquarters relocating from Wisconsin to Florida.
Simtec makes liquid silicone rubber (LSR) into components used in industries from autos to health care to consumer products.
The firm is relocating to Miramar, Florida to be closer to its growing market base in Latin America and other nearby market bases.
Enrique Camacho, President of Simtec says that the relocation is timely for the company’s addition of production units to cover the increasing demand from their customers.
The Miramar location has been chosen due to its proximity to sea ports,international airports, access to highly-skilled human resources and tax incentives.
Simtec will receive incentives from the state’s Qualified Targeted Industry tax refund programme, according to the economic development group, Greater Fort Lauderdale Alliance.
The local government of Miramar also lauded Simtec’s clean and modern manufacturing practices.