A company that makes fire protection material is investing $3 million into a new Maryville plant and hopes to create 40 new jobs.
Microtherm, Inc. announced Wednesday it will move into the Blount Partnership spec building on Fred Lawson Drive in Partnership Park South.
The company manufactures insulation that's used to control heat and save energy.
Microtherm says the company hopes to employ at least 40 people by 2014. 12 of those positions will be office jobs, and the rest will be machine operators and maintenance. Officials say production will likely begin this summer.
Microtherm, Inc. is a subsidiary of the Etex Group, an international business groups based in Brussels, Belgium.
"Congratulations to Microtherm on this announcement, and thank you for your investment in our state," Tennessee Department of Economic and Community Development Commissioner Bill Hagerty said in a statement. "It is especially gratifying for our state to be selected by a global company like the Etex Group for the site of their new Microtherm operations and speaks highly of our state's business-friendly climate and educated workforce."
Local officials also praised the investment.
"With the Partnership having a move-in ready building, it really helped seal the deal," said Ed Mitchell, Blount County Mayor. "We have to make Blount County attractive to outside companies and having sites ready to move into or build make it easier to recruit. Microtherm saw the value in it and that's part of what helped make this venture happen."