Italian automotive component manufacturer Eldor will invest about $75m in the Botetourt County of Virginia, US.
The plant will create 350 jobs in the region which will be Eldor's first plant in the country.
The company manufactures include ignition systems, engine control units, braking systems actuators, and power/electronics management systems for hybrid and electric vehicles, among others.
Virginia Governor McAuliffe said, "This tremendous project is a significant win for the Commonwealth and for Botetourt County".
"The decision by an international company of Eldor 's caliber to choose Virginia for its first US production plant is a strong testament to our business environment, workforce and strategic location."
Virginia Secretary of Commerce and Trade Maurice Jones said: "The Commonwealth continues to catalyze job opportunities by attracting global companies to establish operations here."
The Orsenigo-headquartered Eldor currently has three research and development facilities in Italy, production plants in Italy, Turkey, China and Brazil, and technical offices in the US, China and Germany.
The Virginia Economic Development Partnership worked with Botetourt County and the Roanoke Regional Partnership to bring the project to Virginia.
Governor McAuliffe has approved a $3.2m grant from the Commonwealth's Opportunity Fund for it.
Botetourt County Board of Supervisor Chair Jack Leffel said: "Botetourt County is extremely excited to have had the opportunity to work with and land ELDOR in the Greenfield Industrial Park of Botetourt County."
