OAK RIDGE (WATE) – Gov. Bill Haslam and LeMond Composites announced Wednesday a $125 million expansion that is set to bring 242 new jobs to Roane County.
Haslam, Economic and Community Development Commissioner Randy Boyd and company officials announced the company will begin making a new industry-disrupting carbon fiber for the transportation, renewable energy and infrastructure markets.
“This whole area will be able to provide people with opportunity, I’m excited to be here and it’s going to be fun,” said Greg LeMond, three-time Tour De France winner.
LeMond Composites is located at 103 Palladium Way in Oak Ridge, adjacent to the Oak Ridge National Laboratory Carbon Fiber Technology Facility. The new technology is licensed from ORNL and according to Boyd, “has the potential to transform the automotive and aerospace industries as well as renewable energy and infrastructure markets.”
LeMond plans to break ground on the new facility in January and the first commercially available product will be ready in the first quarter of 2018.
“We’re real excited that they’ve come to our community and I look forward to having them here as corporate citizens. We see this as a really excellent match for some of the things that we in the city are excited about doing in our community,” said Oak Ridge Councilwoman Ellen Smith.