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.
Speaking about today’s announcement at an event in Wytheville, Governor McAuliffe said, “Helping advanced manufacturing companies like Schaffner MTC Transformers expand and create jobs in communities that need them is a key component of my administration’s efforts to build a new Virginia economy. Schaffner MTC Transformers has been a pillar of the Wytheville region’s business community for 30 years, and this expansion should send a message to companies all over the world about the clear benefits of locating and growing in Southwest Virginia.”
“Helping the Commonwealth’s existing manufacturing businesses expand is a key strategy for growing and diversifying Virginia’s economy,” said Secretary of Commerce and Trade Maurice Jones. “Schaffner MTC Transformers has experienced the benefits of our outstanding workforce, infrastructure and business climate, and today they are making a commitment to continued growth in Virginia. We congratulate the company and Wythe County on this exciting news.”
Schaffner MTC Transformers was founded in 1985 in Wytheville. The company began manufacturing and repairing small dry-type transformers for various industrial, utility, and OEM customers and became known for strong technical capability, flexible product offerings, and responsive customer service. In 2011, the company was acquired by Schaffner Holding AG.
Schaffner Holding AG, based in Switzerland, is a global leader in providing solutions that ensure the efficient and reliable operation of power electronic systems by shaping electrical power. The Company’s portfolio includes EMI filters, power magnetic components and power quality filters with related services. Schaffner components are deployed in electronic motor controls, in wind power and photovoltaic systems, rail technology applications, machine tools and robotics, and electrical infrastructure, as well as in power supplies for a wide range of electronic devices in sectors such as medical technology. For the automobile industry, Schaffner develops and manufactures components for convenience and safety features in cars and filter solutions for electric vehicles as well as their charging infrastructure.
“Since the acquisition of MTC Transformers’ dry-type operations in September of 2011, I have experienced the great commitment of our Wytheville staff,” said Schaffner Group CEO Alexander Hagemann. “We are making major investments in our people and the plant to turn this site into our U.S. center of excellence for engineering and manufacturing. This marks our determination to accelerate Schaffner’s growth in North America in line with our recently announced Strategy 2020. I am grateful for the support that we receive on the state, county and town levels to make this project possible. That support has played an important role in making Wytheville the location of choice for our Group’s U.S. center of excellence.”
The Virginia Economic Development Partnership (VEDP) worked with Wythe County, the Joint Industrial Development Authority of Wythe County and the Town of Wytheville to secure the project for Virginia. Governor McAuliffe approved a $175,000 grant from the Commonwealth’s Opportunity Fund to assist Wythe County with the project. The Virginia Tobacco Region Revitalization Commission approved $260,000 in Tobacco Region Opportunity Funds. The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Additional funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program, administered by VEDP.
“Wythe County is proud that Schaffner MTC Transformers is locating additional manufacturing here in Wythe County,” said Timothy A Reeves, Chairman, Wythe County Board of Supervisors. “It is a testament to the workforce and pro-business stance that we proudly offer here.”
“Schaffner MTC Transformers has been an important part of our manufacturing base for over 30 years,” said Trenton G. Crewe, Wytheville Mayor. “The Town of Wytheville is proud that they have chosen to expand their operation here and we are committed to their continued success.”
“On behalf of the Virginia Tobacco Commission, I want to congratulate Schaffner MTC Transformers on their decision to bring 79 new jobs to the Town of Wytheville,” said Senator Charles W. Carrico, member of the Tobacco Region Revitalization Commission. “It’s great to see that they are growing the type of high-tech design and manufacturing jobs that are so important to our region’s future. In addition to the $260,000 from the Tobacco Region Opportunity Fund, this announcement is highlighted by Schaffner’s capital investment of over $3.1 million, which demonstrates their commitment to Wytheville and the region.”
“I am pleased to learn of the decision of Schaffner MTC Transformers to expand its facility here in Wythe County,” said Delegate Jeffrey L. Campbell. “Schaffner MTC has been a critical part of the manufacturing cornerstone here for many years, and this is a testament to the sound management of the company, the dedication and quality of its workforce, and the hospitality and favorable business climate of both the Commonwealth of Virginia, in general, and Wythe County, in particular. We look forward to the company’s continued success for many years to come.
Since the beginning of the McAuliffe administration, 473 economic development deals have been closed in Virginia with more than $7.84 billion in capital investment, more than any previous governor in his first 20 months in office.