An alternative-fuels firm is setting up shop in the Philadelphia suburbs.
Renmatix takes byproducts that most lumber yards throw away and converts them into sugars. Those sugars can be used to make ethanol.
Pennsylvania Gov. Tom Corbett said Renmatix is bringing its headquarters to King of Prussia because of the assets in the region.
“I believe we have the talent here in Pennsylvania, just take a look at our educational institutions of higher education,” Corbett said Tuesday. “We have a will from state government to bring companies here and have them develop here.”
Corbett says the high-tech company could be a catalyst for others to relocate or start here.
“Think about this as new manufacturing,” he said. “It’s not heavy steel manufacturing but new manufacturing.”
“We have a lot of facilities here in Pennsylvania, they could be considered brownfields,” the governor continued. “We could tear them down and build new facilities with new jobs for Pennsylvania.”
Renmatix initially will bring 150 jobs to the area. Many more could follow if it builds a commercial plant here.