Volvo Trucks to Secure 270 Acres Adjacent to the NRV Plant

December 19, 2017/0 Comments/in Advanced Manufacturing, Business, Pulaski County, Work Here /by Onward NRV

~Company acquires 49 acres from the Pulaski County IDA and Enters into a Lease Option Agreement on an Additional 221 acres for Future Business Growth Needs.~

DUBLIN, VA – On December 19th, the Pulaski County IDA, in concert with the Board of Supervisors officially conveyed 49 acres to Volvo Trucks as part of a performance agreement following the satisfaction of the company’s commitment to invest $38.1 million for the construction of a new 36,000 sq. ft. Customer Center and several plant upgrades to further improve the safety, quality and efficiency of NRV’s manufacturing processes, resulting in the creation of 32 new jobs. Volvo Trucks’ business case was to acquire the additional property to the south-western portion of the NRV plant in order to extend their 1.1 mile Customer Experience Track. Volvo Trucks has also entered into a Lease Option-to-Purchase Agreement for an additional 221 adjacent acres owned by the Pulaski County IDA. The IDA has worked with company executives to utilize this creative approach to both satisfy the county’s local incentive obligation and increase opportunities for further capital investments by Volvo Trucks to take place within the County.

“Working with the Pulaski County Board of Supervisors, the Industrial Development Authority and the county staff, these efforts led to the acquisition of the 49 acres and the securing of an additional 121 acres through a lease-option agreement.” said Franky Marchand, Vice President & GM of the Volvo Trucks NRV plant. “Our investments in advanced manufacturing, upgrades in our cab and paint facility and the construction of the new Customer Center were all instrumental in facilitating this important land deal. One of our many competitive advantages stems from providing a unique customer experience here. Extending the Customer Experience Track, our innovative products and services, and interaction with our dedicated employees, makes NRV ‘best-in-class’ for customer experience.”

“Volvo’s land acquisition and the option agreement on the more than 220 acres contiguous to their current operations, has the potential to be one of the most transformative investments the County has recently embarked on,” stated Jonathan D. Sweet, County Administrator. “The IDA’s recent purchase of the adjoining property and the subsequent readying of it for Volvo’s use has significant strategic value and affords our region’s largest employer the ability to further enlarge operations and secure new business, both of which could have a positive yield of new jobs, new investments and new opportunities for the county and our citizens.”

This summer the company introduced their new Volvo VNL series within their new Customer Center. This launch helped gain truck sales by bringing thousands of customers and dealers here to Pulaski County, Virginia During those customer events, the company saw confirmation that they needed to expand the track.

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Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of both worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Qualtrax Featured in Virginia Business

December 12, 2017/0 Comments/in Business, Information Technology, Live Here, Work Here /by Onward NRV

Qualtrax, a compliance software company in Montgomery County, VA, was featured in Virginia Business earlier this month. Qualtrax, which originated as a subsidiary of what is now Christiansburg’s FoxGuard Solutions has grown to 33 employees. Almost of half of whom were added this year.

Located in Downtown Blacksburg, Qualtrax preserved much of a former Masonic Lodge building. While they may call a historic building home, the new company has many modern amenities including a game room and a spot for employee slippers.

Read more from Stephenie Overman of Virginia Business. If you’re interested in rocking slippers to work, Qualtrax is currently hiring.

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Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of both worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Montgomery County EDA Purchases 124 Acres to Expand Falling Branch Corporate Park

November 28, 2017/0 Comments/in Business, Montgomery County, Sites & Buildings, Work Here /by Onward NRV

MONTGOMERY COUNTY, VA – Montgomery County’s Economic Development Authority (EDA) will close on the 124 acres of property adjacent to the County’s Falling Branch Corporate Park at a cost of $2.5 million (or roughly $20,161 per acre) today, November 21, 2017.

“This is a step forward in diversifying opportunities both for existing businesses within Montgomery County to expand as well as to attract new businesses,” said Montgomery County Board of Supervisors Chair, Chris Tuck.

“This purchase allows us to increase our tax base, which will potentially lead to the creation of new jobs with the advent of current businesses having the necessary space to grow as well as new businesses entering Montgomery County,” said Tuck.

The EDA entered into a contract with Cox Family Farms, LLC on May 27, 2017. Upon entering into the contract, the EDA had 180 days to perform due diligence on the property, which included the rezoning request process as well as geotechnical and environmental studies. Rezoning applications with both Montgomery County and the Town of Christiansburg were filed for the property on May 30. Rezonings with both the County and the Town were completed and approved by September 26.

“Prior to this planned expansion of Falling Branch Corporate Park, the largest lot available was about 16 acres, making it a challenge for Montgomery County to attract businesses that need larger lot sizes, said Tommy Loflin, Chair, EDA. “I’m happy we have addressed this issue and are making great strides in expanding the corporate park.”

Currently, Falling Branch Corporate Park is comprised of a total of 175 acres, with 146 acres occupied by businesses including Aeroprobe Corporation, Backcountry.com, DISH Network, Ferguson Enterprises, Inc., Inorganic Ventures, Polymer Solutions Inc., and Prestar Packaging, The recent purchase will add 124 acres to the existing available 29 acres.

“I’d like to congratulate Montgomery County on acquiring this land,” said Charlie Jewell, Executive Director, Onward New River Valley. “The property is highly attractive for larger projects and will aid our efforts to attract new businesses to the area. We look forward to working closely with the County to begin marketing this asset to prospective businesses.”

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Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of both worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Roanoke Times: Virginia Tech Food Sensory Lab Helps Researchers Read Emotions

November 6, 2017/0 Comments/in Business, Montgomery County /by Onward NRV

BLACKSBURG, VA– Virginia Tech has a food sensory lab and technology that allows researchers to see and better understand facial expressions, which provide a unique way to study how foods make people feel and how they might perform in the commercial market.

Hear from local leaders like John Provo and Charlie Jewell how the food sensory lab benefits the New River Valley region as whole and why it’s good for economic development in the area in the full Roanoke Times Article.

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Virginia’s New River Valley: For those searching for a beautiful place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of both worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

NRV Receives Top Rankings in Virginia in the ‘Best of the Southern Auto Corridor’

November 3, 2017/0 Comments/in Accolade, Advanced Manufacturing, Business, Montgomery County, Pulaski County /by Onward NRV

NEW RIVER VALLEY, VA– Virginia’s New River Valley is mentioned as some of the best spots in Virginia by Southern Business & Development magazine’s Best of the Southern Auto Corridor list.

In four out of the ten categories, the NRV was mentioned 7 times. Businesses and assets mentioned include: Volvo, Federal Mogul, Corning, VTTI, and NRCC.

The Volvo Trucks assembly plant is located in Dublin, VA in Pulaski County. The plant is Volvo’s largest hub for manufacturing and employs approx. 2,000 people.

The Virginia Tech Transportation Institute has a 2.2 mile Smart Road that can simulate weather like rain, snow, or fog, and is used to advance transportation and autonomous technology.

New River Community College has one of the best programs for automotive worker training. There is even a dedicated staff member at NRCC that works to support Volvo’s training needs.

In general, Virginia is an excellent place to locate a business in the automotive or advanced manufacturing industry. The law structure and central location to South, Northeast, and Midwest markets make it a very strategic location. Specifically, I-81 runs through the heart of the New River Valley and the region in close proximity to interstates 77 and 64 via I-81, making interstate access easy and convenient.

Falling Branch Corporate Park

Montgomery and Pulaski counties were also mentioned as some of the best places for automotive parts suppliers. There are sites in both counties that would make an excellent fit for businesses in the automotive or advanced manufacturing industries. In Montgomery County, the Falling Branch Corporate Park is an excellent option. The park has graded sites ranging from 3 to 16.7 acres and the county recently acquired an additional 124 acres to develop larger sites. Just off I-81 and highway 460, this park is ready for a new tenant.

NRV Commerce Park

Pulaski County also offers the New River Valley Commerce Park, this site is certified by McCallum Sweeney as an American Electric Power (AEP) Quality Site. The park has robust infrastructure and boasts sites up to 120 acres.

SheaDawn Park Rail

SheaDawn Park, a private development in Pulaski County, also boast excellent infrastructure and a rail spur. Twenty-two miles of the Crescent and Heartland rail corridors converge in Virginia’s New River Valley, which is easily accessible at ShaeDawn.

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Virginia’s New River Valley: For those searching for a beautiful place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of both worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

$1.5 Million Awarded to Begin Phase 2 of Floyd Regional Commerce Center

September 25, 2017/0 Comments/in Business, Floyd County, Sites & Buildings /by Onward NRV

Floyd, Virginia: The Floyd County Economic Development Authority (EDA) has been awarded $1.5 million in grant funding to begin Phase 2 of the Floyd Regional Commerce Center. Senators Mark Warner and Tim Kaine announced $1,081,958 in Appalachian Regional Commission grant funds to construct a road and sidewalks into a 51-acre tract that is part of the 169-acre business park. The Virginia Tobacco Region Revitalization Commission then approved $420,696 in grant funds to extend water, sewer and fiber into the tract as well.

The Floyd Regional Commerce Center is about a half-mile from the Town of Floyd, and one of only a few large tracts in the County served by public water and sewer. The property is adjacent to an Appalachian Power substation with multiple leads and Citizen Telephone’s 200-Gbps open access fiber network. The Floyd Regional Commerce Center is recognized as a Giga-Park due to its extraordinary telecommunications network. Ultimately these 51 acres will net about 27 acres of building sites, though this first step is providing road access and utilities. The property is bordered by a 60+ acre greenway where the EDA anticipates providing a walking trail in the future.

Currently, the County and EDA have only two pre-graded sites remaining available for expanding or relocating businesses. In the past couple years, 5 sites in the Floyd Regional Commerce Center and Floyd County Industrial Park have been sold, leased or built-upon.

“We’ve seen a lot of business growth in the past 4 years in Floyd County—with the number of businesses up 8.5%, the number of people employed within the County up 5.9%, and the average weekly wage up 14%,” said Case Clinger, Chairman of the Board of Supervisors. “However while we are grateful for recent successes and momentum, we still have a 70% out-commuting rate and among the lowest local wages in Virginia. Clearly we need to continue to work to strengthen and diversity our economy–including supporting local business expansion and targeting right-fit businesses.”

“Developing more sites is a top priority for the EDA, and extending the road and utilities is the first step of that,” said Jon Beegle, Chairman of the EDA. “We are very grateful for the strong support from the Floyd County Board of Supervisors, who provided funding for a preliminary engineering report necessary to pursue the grant funds, and to ARC and the Tobacco Commission.”

Floyd County provides a broad range of support for existing businesses and entrepreneurs. In the past couple of years, the County and EDA have:

Successfully sought $500,000 in Tobacco Commission Research and Development for Hollingsworth & Vose, the largest private employer in the County;

Built the Floyd Innovation Center in the Floyd Regional Commerce Center, now home to 8 small businesses;

Provided many free business development workshops to more than 250 people in the past 3 years—from how to start or grow your business, to how to access R&D funding, to specialty workshops for food, farming and wood-related businesses.

Provided business loans to more than 15 small businesses, and last month received an additional $75,000 from USDA Rural Development to loan to small businesses.

For more information, please contact Lydeana Martin, Community and Economic Development Director for Floyd County at 540 745-9300 or lmartin@floydcova.org.

Lydeana Martin
Community and Economic Development Director
Floyd County
PO Box 218
Floyd, Virginia 24091
www.floydcova.org

Contact me if you’re interested in starting or growing a business in Floyd County

And check out www.yesfloydva.org or www.facebook.com/yesfloydva

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Virginia’s New River Valley: For those searching for a beautiful place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of both worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Onward NRV Annual Dinner Hits Record Attendance

September 25, 2017/0 Comments/in Business /by Onward NRV

The Onward NRV Annual Dinner hit record attendance with 150 people at the event last Thursday at the German Club, which included a networking cocktail hour, dinner, a regional and organizational presentation, and a keynote speech and Q&A session from Virginia Secretary of Commerce and Trade Todd Haymore.

Secretary Todd Haymore conducts a Q&A Session with guests at Onward NRV Annual Dinner.

Onward NRV gives extra thanks to the event sponsor, Virginia Health Alliance, for an overview about the future of affordable healthcare from Becky Pollard and their generous contribution, which made the annual dinner possible.

Mr. Jack Morris & Mrs. Terri Morris

The event began with the networking portion, (sponsored this year by The Orange Bandana and Turner Long Construction) which is a great time for investors, allies, sponsors, and guests to mingle and learn more about the opportunities in the NRV.

Onward NRV Executive Director Charlie Jewell gave an update for both the region and organization that covered recent branding and targeted industries initiatives as well as celebrated the successes of the region and the future growth expected in the NRV.

Jewell also spoke to the immense progress the organization has made in its fundraising goal. Onward NRV increased this year’s budget by $28,742. With 13 new investors, 14 investor increases, and 61 investment renewals, it’s clear that the mission of Onward NRV is heavily supported. If you’re interested in growing Virginia’s New River Valley and helping to close the $11,450 gap, download an Investor Brochure, or contact Onward NRV at info@OnwardNRV.org.

Slides from the presentation can be found below.

Keynote speaker, Virginia Secretary of Commerce and Trade Todd Haymore, spoke on the current state of Virginia’s healthy economy and his hope for the future of the commonwealth. Many leaders and organizations in Virginia and the New River Valley are committed to growing Virginia’s economy and ensuring it has a flourishing future.

Secretary Todd Haymore & Mrs. Julie Jewell

Staff at Onward NRV would like to again thank the sponsors that helped make this event possible. A special thank you is also extended to all the Onward NRV investors who believe in the mission of the organization and support strategic growth in Virginia’s New River Valley.

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Virginia’s New River Valley: For those searching for a beautiful place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of both worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

Landos Biopharma, Inc. Raises $10 Million in Series A Financing

September 21, 2017/0 Comments/in Business, Montgomery County /by Onward NRV

Landos Biopharma, Inc. Raises

$10 Million in Series A Financing

Blacksburg-based Landos Biopharma receives $10 million in series A financing to advance development of novel therapeutics for patients with autoimmune diseases.
Participating in Gov. McAuliffe’s “Top 3 by 2023”

BLACKSBURG, VA, September 21, 2017 – Landos Biopharma, Inc. announced today it has raised $10 million in a Series A financing led by life sciences investment NYC-based management firm Perceptive Advisors, LLC, which will serve as its exclusive investor for the Series A round. Landos is an emerging biopharmaceutical company focused on the discovery and development of innovative first-in-class, oral therapeutics for patients with autoimmune diseases.

“I congratulate Landos on receiving funding for its promising work,” says Virginia Congressman Morgan Griffith, “which has the potential to bring relief for those suffering from painful autoimmune diseases.”

Landos, founded by serial entrepreneur and innovator Dr. Josep Bassaganya-Riera, is advancing a robust pharmaceutical pipeline for autoimmune diseases toward commercialization and will partner operational efforts with Boston-based Xontogeny, LLC, a life-sciences accelerator that partnered with Perceptive earlier in 2017. Xontogeny partners with companies to support management teams and provide expertise in the early stages of pharmaceutical and biotechnology development.

“We have a committed leadership team with industry experience focused on developing oral treatments that address an unmet clinical need of patients looking for safer, more effective oral therapeutics, and can disrupt the $9.2 billion per year inflammatory bowel disease (IBD) therapeutics market. But most importantly we believe we can improve the lives of millions of patients living with these diseases,” said Bassaganya-Riera, the Landos Chairman and CEO.

Current therapies for autoimmune diseases, a $100 billion market, have limited efficacy and significant side effects. Landos’ mission is to accelerate the development of safer, more effective therapeutics for painful and debilitating autoimmune diseases including Crohn’s disease and ulcerative colitis.

“I am pleased that Landos Biopharma Inc. has announced it is raising $10 million dollars for the development of a treatment for Crohn’s disease and ulcerative colitis,” said Virginia State Senator John Edwards. “Landos is an emerging biopharma company focusing on developing oral therapies for auto immune diseases. I have visited their facility at the Corporate Research Center in Blacksburg, and I am delighted at the progress they are making in this field.”

The company Chairman and CEO, Josep Bassaganya-Riera, and his company have been active members of Virginia Bio, which is a statewide group that supports the planning behind the Governor’s 2015 Virginia Bioscience Initiative. This initiative calls for Virginia to be in the top three pharmaceutical regions by 2023. Dr. Bassaganya-Riera is also a prominent member of the Blacksburg community and was a featured presenter at the Governor’s Forum on Bio and Big Data in Northern Virginia two years ago.

“I am very excited about the Series A financing for Landos Biopharma, Inc,” said Virginia Delegate Nick L. Rush. “This additional capital moves them closer to market with their innovative biopharmaceuticals. These are the types of advancements that will help diversify the New River Valley’s economy.”

The Landos technology has received non-dilutive funding from NIH SBIR/STTR, the Velocity program, and the Virginia Catalyst, with the vision of advancing life sciences throughout Virginia as a means of addressing large unmet medical needs to improve human health.

“Landos is at the cusp of the next frontier in precision medicine and healthcare innovation. I am excited to see the future work of the Landos team on critical and unmet clinical needs for oral therapeutics for autoimmune disease patients. Josep, Landos’ Founder, is a world-class innovator and his work in Landos could improve the quality of life for a millions number of individuals across the globe.” Said Virginia Delegate Joseph R. Yost.

For more information about Landos Biopharma, visit www.landosbiopharma.com.

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Other Resources

National Press Release

FierceBiotech

About Landos Biopharma, Inc.

Landos Biopharma, Inc. is an emerging biopharmaceutical company focused on the discovery and development of first-in-class oral therapeutics for patients with autoimmune diseases. Landos’ lead clinical asset, BT-11, is a novel, locally-acting small molecule targeting inflammatory bowel disease (IBD) that is expected to enter clinical testing for Crohn’s disease in 2018. Landos also has a robust pipeline of compounds for other autoimmune diseases. Landos is headquartered in Blacksburg, VA. For more information, please visit www.landosbiopharma.com or contact info@landosbiopharma.com

About Xontogeny, LLC

Based in Boston, MA, Xontogeny seeks to accelerate the development of life science technologies by providing entrepreneurs with the leadership, strategic guidance and

Governor McAuliffe Announces 40 New Jobs in Pulaski County

September 8, 2017/0 Comments/in Business, Business Announcements, Pulaski County /by Onward NRV

Governor McAuliffe’s office released the following press release earlier today:

~Koinonia Ltd. to invest $4.9 million to establish first U.S. manufacturing operation~

PULASKI COUNTY – Governor Terry McAuliffe today announced that Koinonia Ltd., a Brazilian-based manufacturer of foam and tape solutions for the automotive, refrigeration (HVAC), marine, construction, and heavy machinery industries, will invest $4.9 million to establish its first U.S. manufacturing operation in the ShaeDawn Industrial Park in Pulaski County. Virginia successfully competed against Indiana, North Carolina, Ohio, and Tennessee for the project, which will create 40 new jobs.

“Koinonia’s first U.S. manufacturing operation is an important win for the commonwealth and the New River Valley,” said Governor McAuliffe, speaking at the event. “Pulaski County’s strategic location and the region’s thriving automotive industry present solid future opportunities for the company as a supplier, pushing Virginia ahead of our competition. Koinonia selecting the commonwealth as its gateway to the U.S. market speaks volumes about our business environment and workforce, and we are proud the company will join our efforts to build a new Virginia economy.”

Founded in 2016, Koinonia (also known as Koi Foams) is a subsidiary of Koinonia Fitas e Pecas Tecnicas e Espumas Ltda, a Sao Paulo, Brazil-based company founded in 2009 that has a well-established customer base in Brazil. The company will manufacture industrial-scale ribbons and technical parts made from polyethylene, ethylene propylene diene monomer (M-class) (EDPM) rubber, nitrile rubber (NBR), neoprene, other rubbers, polyvinyl chloride (PVC), and a variety of flexible materials. Koinonia’s core values include: effective service, honesty, quality, respect, professionalism, commitment, appreciation of people, and transparency and integrity in business relations.

“It’s an honor to welcome Koinonia to Pulaski County and to the growing sector of international advanced manufacturing companies, which currently represent more than $118 billion in direct annual economic output across Virginia,” said Secretary of Commerce and Trade Todd Haymore. “Koinonia is a supplier to a variety of industries and companies and undoubtedly will be a key economic asset to the New River Valley.”

“After searching different U.S. states for our plant, we at Koinonia decided to open our doors in Virginia for various reasons, including the great support from state and local authorities, lower cost of living, lower cost of energy, and the talented workforce from local colleges and universities,” said Koinonia Chief Operating Officer Marcio Lopes. “Virginia welcomed us with open arms, and it has been an honor and privilege to work with the Onward NRV team and, specifically, the people from Pulaski County.”

The Virginia Economic Development Partnership worked with Pulaski County and Onward New River Valley to secure the project for Virginia. Governor McAuliffe approved a $100,000 grant from the Commonwealth’s Opportunity Fund to assist the County with the project. The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.

“We are thankful to the Governor and his economic development team for their support and assistance with securing this, our third new jobs announcement this year. These successes have yielded more than $55 million in new capital investments and approximately 200 new jobs for Pulaski County,” stated Jonathan D. Sweet, County Administrator, Pulaski County. “The Board of Supervisors has made it a priority for Pulaski County to become the center of international business and the advanced manufacturing hub of Southwest Virginia, and Koinonia’s commitment to join our esteemed international business community is further confirmation of our strategic efforts. The Koinonia family will be Pulaski County’s eighth international business that collectively represents more than 3,850 jobs in the New River Valley region of the Commonwealth, and we are immensely honored to have earned the company’s investment, trust, and friendship.”

“Koinonia’s investment and creation of 40 jobs is great news for the region and is a testament to the strength of the business environment created by Pulaski County with another international company calling the County home,” said Senator Ben Chafin. “Koinonia will be a wonderful addition to the County and business community. Creating advanced manufacturing jobs and opportunities is essential to growing the economy, and Koinonia will be an asset to success in the New River Valley.”

“The New River Valley is looking forward to having Koinonia as an additional partner in our global manufacturing efforts,” said Delegate Nick Rush. “We are confident the company will build strong relationships with local businesses, as Pulaski County’s established industries and companies recognize the importance of growing our region and supporting new opportunities. On behalf of the Seventh House District and the Commonwealth, I’m happy to welcome Koinonia to the New River Valley!”

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Virginia’s New River Valley: For those searching for an inspiring place to live and do business, Virginia’s New River Valley provides both an eclectic small town atmosphere and an innovative, collaborative business community with a loyal, highly skilled, and educated workforce. Offering the best of both worlds – magnificent mountains, cutting-edge research, arts, entertainment, and education – it’s A NATURAL FIT.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.

The Port of Virginia Awards Hubbell Lighting, Inc. and Wolverine Advanced Materials $406,500 in Grant Money

August 28, 2017/0 Comments/in Advanced Manufacturing, Business, Business Announcements, Montgomery County /by Onward NRV

Two companies in Montgomery County were awarded a total of $406,500 in grant money by The Port of Virginia Economic and Infrastructure Development Grant Program, which is made to facilitate the growth of the port by putting investment into maritime related business. Hubbell Lighting, Christiansburg, was awarded $315,000 and Wolverine Advanced Materials, Blacksburg, $91,500. The grant is available from 2014-2020 with a maximum for each grant at $500,000 each year, to an annual total of up to $5 million.

Hubbell Lighting, Inc. is one of the largest lighting manufacturers in North America and services commercial, residential, and industrial markets all over the world. Hubbell invested an additional $6.015 million dollars and created 100 new jobs in the New River Valley in 2015 and is consistently a world leader in lighting innovation.

Wolverine uses the Port of Virginia to export their high-performance materials used in automotive and industrial noise reduction to key markets in China and India. In 2014, Wolverine invested $10.625 million and created 93 new jobs to expand its materials manufacturing operation. This grant program is an excellent opportunity for business in our area and helps exporting businesses continue to invest in our region. For more information about the Port of Virginia’s grant, visit the ED + Infrastructure Grant Program page.