Showing posts with label Opportunity Fund. Show all posts
Showing posts with label Opportunity Fund. Show all posts

Friday, November 8, 2013

Governor McDonnell Announces Major Manufacturing Investment in Culpeper County

Seal of Culpeper County, Virginia
Seal of Culpeper County, Virginia (Photo credit: Wikipedia)
TE Connectivity Ltd. to expand operation and create 30 new jobs

RICHMOND - Governor Bob McDonnell announced today that TE Connectivity Ltd. (NYSE: TEL) will invest more than $15 million in the expansion of the company’s operations in the Town of Culpeper in Culpeper County. The plant designs and manufactures undersea fiber optic telecommunication cables, electro-optical-mechanical cables, and steel wire. The project is expected to create approximately 30 new jobs.

Speaking about today’s announcement, Governor McDonnell said, “TE Connectivity has been a strong employer in Culpeper since the 1930s, and this major investment and expansion exemplifies the success companies experience in the Commonwealth. This operation is significant, as it will be the only TE Connectivity manufacturing site to produce wire and cables for the marine industry, servicing domestic and international markets. Access to key clients, a trained and available workforce and the cost of doing business are key factors that gave Virginia the advantage. We look forward to TE’s success for the next 80 years.”

“TE Connectivity is a global company that does important work for a major industry to keep us connected,” said Jim Cheng, Virginia Secretary of Commerce and Trade. “This tremendous investment to expand in Culpeper County and create new high-tech jobs enables the company to add capacity and build on its long-term success and growth in Virginia.”

TE Connectivity is a $13 billion world leader in connectivity. The company designs and manufactures products at the heart of electronic connections for the world's leading industries including automotive, energy and industrial, broadband communications, consumer devices, healthcare, and aerospace and defense. TE Connectivity's long-standing commitment to innovation and engineering excellence helps its customers solve the need for more energy efficiency, always-on communications and ever-increasing productivity. With nearly 90,000 employees in over 50 countries, TE Connectivity makes connections the world relies on to work flawlessly every day.

“TE is pleased to make this investment within our Culpeper manufacturing site, as the facility expansion and the newly created positions will play an important part in the growth of our business,” stated Kevin Rock, President - Aerospace, Defense and Marine, a Global Business Unit of TE Connectivity. “Virginia has always had a talented and skilled workforce, which has allowed us to hire highly capable people to support our technical business.” 

            The Virginia Economic Development Partnership worked with the Town of Culpeper, Culpeper County, and the Central Virginia Partnership for Economic Development to secure the project for Virginia. Governor McDonnell approved a $100,000 grant from the Governor’s Opportunity Fund to assist Culpeper County with the project.

Town of Culpeper Mayor Chip Coleman stated, “The expansion and prospect of additional jobs is great news on so many fronts. It shows that our economy is slowly recovering and that a major corporation sees that we have a high quality workforce in a community with a quality of life that is attractive. We are indeed fortunate to have this major expansion and the new jobs it brings to our community. Economic development is the cornerstone of a prosperous community.”

Sue Hansohn, Chairperson of the Culpeper County Board of Supervisors, said, “We are very excited about this news. TE has been a corporate partner with Culpeper for many years. We are also pleased because light manufacturing is one of our target industries and helping our existing businesses grow and expand is one of our major economic development strategies. Culpeper, Virginia was not the only location that the company was considering for this expansion. I would like to thank the Commonwealth of Virginia, the Virginia Economic Development Partnership and the County’s Department of Economic Development for the outstanding effort they put forth in helping TE Connectivity choose Culpeper, Virginia as the location for this important project.”
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Monday, October 7, 2013

Governor McDonnell Announces $40 Million Investment in Henry County

English: Governor of Virginia at CPAC in .
 Governor of Virginia  (Photo credit: Wikipedia)
~Eastman Chemical Company to expand and add 25 new jobs~


RICHMOND Governor Bob McDonnell today announced that Eastman Chemical Company will invest $40 million over the next three years to expand its manufacturing operation in Henry County. Eastman acquired the site in 2012 and became the leading global manufacturer of window films for the automotive and architectural markets. The company’s facility in Henry County is one of the largest and most integrated window and performance-coated film manufacturing sites in the world. The investment in Henry County is expected to create 25 new jobs.

            Speaking about today’s announcement, Governor McDonnell said, “An investment of this caliber from a major employer in Henry County is significant for Southern Virginia. Eastman’s Henry County operations are unique in their ability to take the manufacturing process from raw materials all the way to a finished product. The decision to invest will not only bring new jobs, but will help support the development of innovative, energy-saving product applications to grow Eastman’s performance films business. Eastman’s commitment is a great testament to the company’s long-term success in Virginia.

            “For more than 50 years, this film manufacturing plant has been a vital corporation in Henry County,” said Jim Cheng, Virginia Secretary of Commerce and Trade. “The support Eastman Chemical Company receives from the local community, Patrick Henry Community College and the New College Institute is vital to developing a more skilled workforce to support manufacturing. We are confident that with this investment and expansion, Eastman’s operation that employs approximately 500 will continue to thrive in Southern Virginia.”

            Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive and end-markets such as transportation, building and construction, and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2012 pro forma revenues, giving effect to the Solutia acquisition, of approximately $9 billion. The company is based in Kingsport, Tennessee, and employs approximately 14,000  people around the world.

Mark Costa, president of Eastman stated, “Eastman’s investment in Henry County will target specific initiatives and include infrastructure and technology upgrades, warehousing improvements, environmental, safety and reliability enhancements and production capacity expansions to support growth. To enable each of these, Eastman anticipates an increased need for skilled employees. The partnerships with Patrick Henry Community College and New College Institute are critical for successful workforce development.”

            The Virginia Economic Development Partnership worked with the Martinsville-Henry County Economic Development Corporation to secure the project for Virginia. Governor McDonnell approved a $75,000 grant from the Governor’s Opportunity Fund to assist Henry County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $230,000 in Tobacco Region Opportunity Funds. The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company’s recruitment and training activities.

            “Henry County is thrilled to have Eastman here and we are excited about the possibilities that today’s announcement represents,” said Jim Adams, Chairman of the Henry County Board of Supervisors. “This is a great day for all of us.”

            “Many thanks to the Eastman management team for choosing their Henry County location for a $40 million expansion, creating 25 new advanced manufacturing jobs with above average pay,” said Delegate Danny Marshall, a Commissioner of the Virginia Tobacco Indemnification and community Revitalization Commission. “This is a win-win. The new capital investment will create new local taxes that will help pay for K-12 education and public safety. But the most important result is that 25 citizens will be hired for advanced jobs with above average pay. These new employees will be able to provide for their families and have a better life. This is the American dream. This is why the Virginia Tobacco Commission invested $230,000 for the project.”
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