A new facility in Loudon is expected to create 200 new jobs over the next five years.

Tennessee Gov. Bill Haslam, Department of Economic and Community Development Commissioner Bob Rolfe and Protomet Corporation officials announced Tuesday that the Oak Ridge-based company will invest $29.3 million to establish a new facility in Loudon County.

“Protomet has been one of Tennessee’s leading growth companies during the past several years, and I’m pleased to see it expand further with this operation in Loudon,” Haslam said.

Haslam said the advanced manufacturing and engineering base growth will put Tennessee closer to being the No. 1 location in the Southeast for high quality jobs.

"I’m incredibly pleased to welcome 200 new high quality jobs in Loudon County,” Rolfe said.

Protomet, an engineering, manufacturing and technology company, will rehab a 224,000-square-foot building in Loudon, formerly occupied by Maremont Exhaust Products. Protomet’s Loudon facility will include manufacturing, engineering and R&D capabilities.

The company anticipates the Loudon plant will be operational in the first half of 2018.

According to the release, the latest expansion in Loudon County is driven by new demand for Protomet’s products and the need for additional manufacturing and production capabilities.

“The City of Loudon is proud to locate this high precision metal fabrication manufacturing facility to our community,” Loudon Mayor Jim Greenway said.

Mayor Greenway said the building has been sitting vacant for years.

Loudon and Loudon County are represented by Lt. Gov. Randy McNally (R – Oak Ridge), Rep. Kent Calfee (R – Kingston) and Rep. Jimmy Matlock (R – Lenoir City) in the Tennessee General Assembly.