Governor McDonnell Announces Polymer Group, Inc. Expansion in City of Waynesboro
– Company to invest at least $65 million and create 41 new jobs –
RICHMOND - Governor Bob McDonnell today announced that Polymer Group, Inc. (OTC Bulletin Board: POLGA; POLGB) (PGI), one of the world's leading producers of nonwoven fabrics, plans to invest at least $65 million to expand its existing facility in the City of Waynesboro. The investment would include the purchase of high-technology equipment to establish a new manufacturing line and increase production, and the expansion of the current building in order to accommodate the new line. The project would also create 41 new jobs. Virginia successfully competed against North Carolina for the project.
"An investment of this magnitude and the creation of 41 new jobs is important for Waynesboro and important for the manufacturing sector in Virginia," said Governor McDonnell. "PGI has experienced success in the Commonwealth, and this planned expansion enables the company to increase both production and product capabilities with state-of-the-art new equipment. The project ensures that PGI will continue to build on its progress in Waynesboro."
Speaking about today's announcement, Lieutenant Governor Bill Bolling remarked, "Needless to say, we are delighted that PGI has decided to expand their operations in Waynesboro and Virginia. This expansion will result in a significant capital investment and create many new, high paying jobs in the Shenandoah Valley. I enjoyed working with PGI officials to help make this expansion a reality, and I applaud their recognition that Virginia is a great place to live, work and raise a family. Hopefully, this announcement will by the first of many more to come as we work to get our economy moving again and create the jobs we need to secure a more prosperous economic future for the people of Virginia."
PGI is a global, technology-driven developer, producer and marketer of engineered materials. With the broadest range of process technologies in the nonwoven fabrics industry, PGI is a global supplier to leading consumer and industrial product manufacturers. The company operates 15 manufacturing and converting facilities in nine countries throughout the world.
Veronica "Ronee" Hagen, Chief Executive Officer of PGI stated, "This planned expansion in product capability and capacity is part of PGI's ongoing strategy to provide superior solutions to the marketplace and meet our customers' needs. The efforts of the Virginia Economic Development Partnership and local Waynesboro officials to address and meet our unique needs through their combined incentive package have allowed us to make this planned expansion possible in Waynesboro."
The Virginia Economic Development Partnership worked with both the City of Waynesboro and the Shenandoah Valley Partnership to secure the project for Virginia. Delegate Steve Landes also assisted with the project. Governor McDonnell approved a $750,000 grant from the Governor's Opportunity Fund to assist Waynesboro with the project. Governor McDonnell also approved $750,000 in a performance-based grant from the Virginia Investment Partnership (VIP) program, an incentive available to existing Virginia companies. The Virginia Department of Business Assistance will provide new job training assistance through the Virginia Jobs Investment Program.
Waynesboro Mayor, Timothy D. Williams, noted his enthusiasm for the project and called the expansion a much needed boost for the Waynesboro economy. "I appreciate the cooperative effort on the part of representatives of PGI, the Commonwealth and the City of Waynesboro to land this expansion. Our community is proud of its manufacturing heritage and we believe that PGI will help us secure a healthy future in the manufacturing sector."
About the Virginia Economic Development Partnership
The Virginia Economic Development Partnership (VEDP), a marketing organization, was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. The Partnership is a state authority, which is governed by a 22-member Board of Directors appointed by the Governor and the Virginia General Assembly. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade. VEDP has offices in Virginia, Belgium, Hong Kong, Mexico and Japan.
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