Hollingsworth & Vose (H&V) will invest $40.2 million to expand its operation in Floyd County, VA. The global manufacturer of advanced materials used in filtration, battery, and industrial applications will add over 28,000 square feet to its existing facility to accommodate new production equipment to meet increased demand. H&V also considered Georgia for the project, which will create 25 new jobs.
“We’ve been a part of the Floyd, Virginia community since 1976. This facility is essential to serving both our global and domestic customers,” said Josh Ayer, CEO of H&V. “We chose Virginia for this expansion because of its positive business environment and strong support from the Commonwealth of Virginia and Floyd County.”
(Source: Virginia’s New River Valley)
Massachusetts-based H&V’s advanced materials contribute to a cleaner world through products that provide clean air, clean liquids, and energy storage. The company has been family-owned for seven generations. In 1976, H&V established its first Virginia facility and currently employs over 200 workers.
“Hollingsworth & Vose has generated positive economic impact and job opportunities in Floyd County for more than four decades, and this significant investment further solidifies the company’s commitment to Virginia,” said Governor Glenn Youngkin. “Businesses with a long history of expansion in the Commonwealth offer powerful testimonials on why a Virginia location is a foundation for success, and we look forward to a continued partnership with H&V.”
The Virginia Economic Development Partnership worked with Floyd County to secure the project for Virginia. Gov. Youngkin approved a $558,700 grant from the Commonwealth’s Opportunity Fund to assist with the project.
“Hollingsworth & Vose has played a role in the success of Virginia’s advanced materials industry over the past 46 years, and we are thrilled to support this important corporate partner’s expansion in Floyd County,” said Secretary of Commerce and Trade Caren Merrick. “The company’s continued investment is a strong testament to the New River Valley’s strategic location and business-friendly environment, and we thank H&V for creating high-quality jobs in Floyd County.”
“We are delighted to continue to support Hollingsworth & Vose’s growth in Floyd County. Their new investment is over three times bigger than the largest private investment in our county’s 191-year history,” said Joe Turman, Chairman of the Floyd County Board of Supervisors.
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