Precision part manufacturer to expand operation with $1M investment
RICHMOND - Governor Terry McAuliffe today announced that Kosmo Machine Inc., a full service precision machine shop, will invest $1,000,000 in new equipment to increase production capacity at its manufacturing operation in Henrico County. The expansion will create 36 new jobs.
“Kosmo Machine has been a deep-rooted part of the Central Virginia business community for 40 years, and I am pleased to announce they will continue to invest and grow their workforce here in the Commonwealth.” said Governor McAuliffe. “Providing training assistance to ensure a skilled pipeline of talent is critical to building the new Virginia economy, and Kosmo will benefit from the Virginia Jobs Investment Program that has supported our workforce for more than half a century.”
Kosmo Machine Inc. is a full-service precision machine shop specializing in computer numerical control milling and turning, electrical discharge machining, and custom welding processes, as well as ISO 9001:2015 certified Quality Management System. The company was founded in 1976 and manufactures precision components for a variety of industries, including electric power generation, chemical and fibers, electric motor components, and shipbuilding.
“Kosmo Machine is a great small business success story for Henrico County and the Commonwealth, and we congratulate the company on this expansion and advancement of a critical sector,” said Secretary of Commerce and Trade Todd Haymore. “The manufacturing industry is booming in Virginia, employing over 240,000 workers and adding more than $110 billion to our economy annually. Continuing to strengthen this sector is paramount to our efforts to diversify and build the new Virginia economy as we work to create more 21st century jobs.”
“We are proud to announce our recent AS9100-D Aerospace and Defense quality system certification,” said Kosmo Machine Vice President of Sales and Marketing Pat Smook. “Expanding into these markets makes for exciting times as we build our workforce. Anyone can buy a building and fill it with machines, but our history has established our employees as the ones who make us successful. We recognize that leading edge training will be a win / win for our employees, Kosmo Machine and the Commonwealth of Virginia.”
The Virginia Economic Development Partnership will support Kosmo Machine’s new job creation through its Virginia Jobs Investment Program (VJIP). VJIP provides consultative services and funding to companies creating new jobs or experiencing technological change to support employee training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for its citizens.
“We are pleased to have Kosmo Machine announce its expansion and job creation in the County of Henrico,” said Mrs. Patricia S. O’Bannon, Chairman of the Henrico Board of Supervisors, Tuckahoe District. “Kosmo is a family owned and operated business that has been located in Henrico for four years. With this expansion, Kosmo Machine will continue to contribute to the success of manufacturing in Henrico County.”
"Kosmo Machine's decision to invest $1,000,000 to expand its Henrico operation will provide skilled manufacturing jobs, diversify our job base, and promote economic growth in our region," said Senator Jennifer McClellan. "I am pleased that the Commonwealth can assist with this expansion, and I thank Kosmo for its continued commitment to Central Virginia."
“I am extremely proud of the work Kosmo Machine Inc. has done in Henrico County over the years,” said Delegate Riley Ingram. “With its recent investment, the company will create jobs while augmenting its own manufacturing capabilities allowing for growth in the future. This is the kind of local, small business growth that we should all celebrate.”