Smith & Co., a precision CNC machining startup, will invest $2.56 million to open a facility in Birmingham to serve the defense, aerospace, and automotive industries. The company plans to hire 54 new employees over the next three years, with an average wage of more than $68,000. The new facility will be located on Fourth Avenue South, near Birmingham’s Lakeview District.

Founder & CEO Robert Smith said the company will create and manufacture a variety of commercial parts for most any industry, but especially defense, aerospace and automotive. The 7,500-square-foot facility will have 3-D metal printing capabilities, as well as carbon fiber and nylon. Smith previously co-owned a similar company in Tuscaloosa, which he and his family sold after 30 years in business. Smith moved to Birmingham four years ago and discovered Birmingham was the perfect place for a new venture.

“There is no comparison – the restaurants, events, proximity to other cities and the airport, cost of living,” said Smith, pointing to the diversity of Birmingham’s economy. “Being in Birmingham will make it easier to attract talent, especially high-level engineers.”

In October, the Birmingham Industrial Development Board agreed to abate noneducational ad valorem and sales and use taxes for 10 years for the project. The Birmingham Business Alliance worked with the company through the approval process.

“We are excited to see Smith & Co. invest in Birmingham to bring more and better jobs to the area,” said Ron Kitchens, CEO of The Alliance. “We’ll continue to work with the company to leverage their capabilities and talent in attracting and retaining more companies to the region.”

Smith & Co. worked with Andy Jocham with the Jefferson County Economic and Industrial Development Authority, Alex Patrick with The Alliance, Tim Segars and Bo Lineberry at Balch & Bingham on this project.