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Ashland Inc. Investing $39M in Hopewell, Virginia

01/12/2011
Ashland Inc., a maker of specialty chemicals, is investing $39 million in facility improvements at its Hopewell, Virginia, site. The company will also retain 200 existing employees and create an additional 15 jobs.

"Ashland greatly appreciates the enthusiastic support of Governor McDonnell and his administration, and the further support of Mayor Luman-Bailey and the Hopewell and regional community. This cooperation provides a strong stimulus for business growth and encourages strong communities through which we all benefit. It's always very rewarding when new manufacturing jobs are created - truly a testament to the hard work, dedication, and commitment of our Hopewell employees, and a symbol of our partnership with civic and government leaders," said John Panichella, president of Ashland Aqualon Functional Ingredients, a company division.

Governor McDonnell has approved a $250,000 performance-based grant from the Virginia Investment Partnership program. Ashland may also receive state benefits from the Virginia Enterprise Zone Program, the Virginia Jobs Investment Program, and the Virginia Department of Business Assistance.

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