News & Reports
Governor McAuliffe Announces $3 Million Investment in Wythe County
December 30, 2014
News & Reports
December 30, 2014
Governor Terry McAuliffe announced today that Coperion Corporation, in collaboration with local real estate developer WYCO, LLC (William Ellenbogen Managing Member), will invest a total of more than $3 million to expand its manufacturing operation in Wythe County. Coperion, a wholly owned subsidiary of Hillenbrand, Inc. since 2012, is the world market and technology leader for compounding systems, bulk materials systems, components and services. Virginia successfully competed against New Jersey for the project, which will create 22 new jobs.
Speaking about today’s announcement, Governor McAuliffe said, “I am thrilled to announce the expansion of a powerful public company like Coperion in Wythe County. Creating quality jobs in the advanced manufacturing sector is one of the most important ways we can build a new Virginia economy, and we look forward to Coperion’s continued growth and success in Southwest Virginia.”
“Coperion Corporation’s expansion is terrific news for Wythe County and the region,” said Maurice Jones, Virginia Secretary of Commerce and Trade. “This project is strategically important in that it brings new jobs and capital investment to an area in need, and also represents further growth opportunities for the operation as it expands and adds equipment and production capabilities.
Coperion, headquartered in Stuttgart, Germany, is a wholly owned subsidiary of Batesville, Indiana-based Hillenbrand, Inc. Hillenbrand (www.Hillenbrand.com) is a global diversified industrial company that makes and sells premium business-to-business products and services for a wide variety of industries. The company pursues profitable growth and meaningful dividends for its shareholders by leveraging its leading brands, robust cash generation capabilities, and strong core competencies.
Coperion is the worldwide market and technology leader in compounding and extrusion, materials handling and service, as well as a partner for global corporations and small-to-medium-sized enterprises in the plastics, chemicals, food and aluminum industries. As an integrated technology provider, the company uses its comprehensive system and process expertise to implement individual solutions for compounding technology and bulk materials handling for its customers. This covers the full added-value chain of the production process, from consultation and planning through engineering, process optimization, manufacturing, delivery, installation and commissioning through the company’s worldwide service network. Coperion collaborates with customers on innovative, new, and further developed components, machines and systems, forming the basis for long-lasting, successful partnerships in which the focus is on the benefit for the customer with efficiency, reliability, and quality.
“We’re excited to expand our operations in Wytheville,” said Robert DiMarino, Vice President Operations, Coperion Corporation. “We’ve been extremely pleased with the dedicated employees at our existing operation here, and that was a big factor in our decision. We also appreciate the support of the Commonwealth, Wythe County and the Town of Wytheville, the Virginia Economic Development Partnership, and Virginia’s aCorridor in making this project a reality.”
The Virginia Economic Development Partnership worked with Wythe County and Virginia’s aCorridor to help secure the project for Virginia. Governor McAuliffe approved a $75,000 grant from the Governor’s Opportunity Fund to assist Wythe County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $80,000 in Tobacco Region Opportunity Funds for the project. The company will also receive benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“We are excited for the upcoming expansion of the Coperion Corporation in Wythe County,” said Tim Reeves, Chair of the Wythe County Board of Supervisors. “Coperion has been a contributing member of this community for many years, and we are happy the company chose to expand its business here. This expansion is a major accomplishment in Wythe County’s industrial growth.”
Mr. David Kause, Chair of the Joint IDA of Wythe County, said, “Coperion’s continued investment in Wythe County is a testament to our strong workforce and positive environment for business.”
“On behalf of the Virginia Tobacco Commission, I want to congratulate Coperion on this expansion that will bring 22 new jobs to Wythe County,” said Senator Bill Carrico, a member of the Virginia Tobacco Indemnification and Community Revitalization Commission. “In addition to the $80,000 from the Tobacco Region Opportunity Fund, this announcement is highlighted by the capital investment of more than $3 million, which demonstrates the company’s continued commitment to Wythe County and the region.”
Since the beginning of the McAuliffe Administration, 247 economic development deals have been closed in Virginia with more than $5.3 billion in capital investment, more than twice the amount of capital investment brought to the Commonwealth in any Governor’s first 11 months in office.
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