Balchem Invests $10 Million in Alleghany County Facility
A manufacturer of ingredients used in food, pharmaceuticals and animal nutrition announced plans today to establish an operation in Alleghany County, investing approximately $10 million and creating 55 new jobs within two to three years.
Balchem Corp., based in New Hampton, NY, will manufacture encapsulated ingredients for global applications used in animal nutrition and health products. The company plans to acquire a vacant, 68,000-square-foot building currently owned by the county, located in the Alleghany Regional Commerce Center.
Speaking about todayâ€™s announcement, Virginia Gov. Bob McDonnell said, â€śAlleghany County is the ideal location for Balchem Corporationâ€™s first Virginia operation. The strategic location with direct access to Interstates 64 and 81 allows the company to easily serve its customer base in the Northeast and Midwest. In addition, the region offers a business-friendly and available labor force. Balchem will provide 55 new jobs over the next two to three years and help contribute to the diversification of Alleghany’s manufacturing sector, and we thank the company for this significant investment in the Commonwealth.â€ť
Balchem has three business segments: ARC Specialty Products; food, pharmaceutical and nutrition; and animal nutrition and health. Through ARC Specialty Products, Balchem provides specialty-packaged chemicals for use in healthcare and other industries. The food, pharma and nutrition segment provides proprietary microencapsulation, granulation and agglomeration solutions to a variety of applications in the human food, pharmaceutical and nutrition marketplaces. The animal nutrition and health segment manufactures and supplies products to numerous animal health markets and certain derivative products into industrial applications.
Balchem is on the Forbes list of the 100 best small companies in America.
â€śToday is a great day in Alleghany County,â€ť said Stephen A. Bennett, chairman of the Alleghany County Board of Supervisors.Â â€śBalchem is a growing, successful company that is making an investment in our community, diversifying our manufacturing base, and creating excellent jobs for our citizens.Â Itâ€™s exactly the kind of company that makes Alleghany County an even better story to tell.â€ť
â€śBalchem is a world-wide leader in nutrition and health products,â€ť added Mark R. George, Chairman of the Alleghany Highlands Economic Development Corporation and Vice President, Strategic Initiatives for MeadWestvaco. â€śThe company recognizes that the Alleghany Highlands provides the workforce and business environment that will contribute to their continued success.â€ť
â€śAlleghany County was successful in locating Balchem because the region has the right workforce, business climate, and infrastructure for this companyâ€™s needs,â€ť said Beth Doughty, executive director of the Roanoke Regional Partnership.
â€śThe state, regional and local economic development organizations were excellent to work with, providing us with timely information about the benefits of Virginia and Alleghany County,â€ť said John Kuehner, Balchemâ€™s Vice President of Operations. â€śWe evaluated raw material supply, customer locations, trade infrastructure support, and overall costs of doing business. These factors, combined with a significant incentive package, led us to this decision.â€ť
According to Dr. Dana Putnam, Vice President and General Manager, Balchem Animal Nutrition and Health, â€śThis investment will provide Balchem with world-class manufacturing capabilities that allow us to match the rapidly growing demands for our products and technology in the animal nutrition and health industry.Â From this, we can continue to advance solutions that aid in gains in animal productivity and health while reducing the environmental impact of contemporary feeding programs.â€ť
The Virginia Economic Development Partnership, Alleghany County, the Alleghany Highlands Economic Development Corporation and the Roanoke Regional Partnership worked together to secure the project.
McDonnell approved a $150,000 grant from the Governorâ€™s Opportunity Fund to assist Alleghany County with the project. The company is eligible to receive 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 Companyâ€™s recruitment and training activities.
Balchem projects making $10 million in capital investments within the first three years to purchase machinery and equipment, acquire the building and make building improvements.
Of the 55 new jobs, 20 will come in the first year with the balance coming over the next 2-3 years.