RICHMOND - Governor Terry McAuliffe announced today that Virginia has received $1.8 million in grant funding for a third year of its Going Global Defense Initiative (GGDI), administered by the Virginia Economic Development Partnership (VEDP). The GGDI was created to mitigate the negative impact of defense spending cuts on Virginia’s economy.
RICHMOND - Governor Terry McAuliffe announced today that Ventech Solutions, a SEI CMMI Level 3 software company that specializes in managing full life cycle deployment of software systems and solutions, will invest $1.5 million to establish an Innovation, Operations and Engineering (IOE) center in Prince William County. Virginia successfully competed against Maryland and other states for the project, which will create 200 new jobs paying above the average prevailing wage in the region.
RICHMOND - Governor Terry McAuliffe announced today that Chris Renee Cosmetics LLC, a natural cosmetics company with two beauty and skincare lines located in Tazewell County, will invest more than $2 million to establish a new manufacturing operation in the Oak Park Center for Business and Industry in Washington County. Virginia successfully competed against Kentucky, Ohio and Tennessee for the project, which will create 37 new jobs.
RICHMOND - The Virginia Economic Development Partnership (VEDP) Board of Directors today announced the establishment of a new Legislation and Policy Committee. The purpose of the committee is to advocate VEDP’s legislative and budgetary priorities with legislators, Administration officials, and other external stakeholders, with the goals of fully optimizing the organization to expand and grow Virginia’s economy. The first meeting was held prior to the quarterly VEDP board meeting on September 9, 2015.
RICHMOND - The Virginia Economic Development Partnership (VEDP) today announced that several Virginia defense companies are touting business success following participation in the 2015 Canadian Defense, Security and Aerospace Exhibition Atlantic (DEFSEC Atlantic) that took place September 8-10 in Halifax, Nova Scotia, Canada. One Virginia company received a purchase order, a second company is awaiting issuance of a request for proposal, and a third company is finalizing their market presence in Canada.
RICHMOND - The Virginia Economic Development Partnership (VEDP) today announced that Trident Systems Incorporated has signed a new contract valued at $3.2 million with Saudi Arabia for unattended ground sensors. Trident Systems is a participant in Virginia’s Going Global Defense Initiative (GGDI), the Commonwealth’s only program that secures new revenue streams for Virginia’s defense companies in face of declining U.S. Department of Defense spending, which in turn preserves jobs and replaces declining state tax revenues for Virginia.
RICHMOND - Governor Terry McAuliffe announced today that the Volvo Group will invest $38.1 million at the New River Valley (NRV) assembly facility in Pulaski County, where all Volvo Trucks models for North America are assembled. The investment will allow Volvo to make several plant upgrades and build a 36,000-square-foot Volvo Trucks Customer Experience Center on the NRV grounds. In addition to the investment, Volvo will add 32 new jobs at NRV.
RICHMOND - Governor Terry McAuliffe announced today that Schaffner MTC Transformers, a developer and manufacturer of standard and custom components and high-performance transformers, will invest $3.1 million to expand its operation in the Town of Wytheville in Wythe County. Virginia successfully competed against Ohio for the project, which is expected to create in the coming years 79 new jobs paying above the average prevailing wage in the region.
RICHMOND - Governor Terry McAuliffe announced today that Blue Wolf, a manufacturer and supplier of professional quality industrial strength cleaners for the wholesale and retail market, will invest $1.56 million to expand its operation in Tazewell County. The company will move to a larger facility and install new advanced packaging and manufacturing machines due to a strong increase in product demand for nationwide retailers. Virginia successfully competed against West Virginia for the project, which will create 15 new jobs.
RICHMOND - The Virginia Economic Development Partnership (VEDP) today announced that Northland Forest Products (NFP) has increased sales into its export markets as a result of VEDP’s international trade programs. The company graduated from the Virginia Leaders in Export Trade (VALET) program in 2013. Since that time, NFP has seen a steady increase in export sales. Through market visits to Poland in 2012 and 2013, NFP found new customers in central Europe. Two market visits to China also led to increased sales to NFP’s largest Asian market.