Falls Stamping & Welding Company, a metal stamping company serving the automotive, trucking, and non-automotive markets, will invest $5.7 million to establish an operation in the Town of Pulaski, Virginia
, creating 112 jobs. The company will supply metal sub-assemblies to the Volvo Trucks plant in Dublin, Virginia through a major contract.
"Fall's initial intent was to locate a facility somewhere in or near North Carolina, closer to our existing customer base," said Lane Witte, Vice President of Sales, Falls Stamping & Welding Company. "This particular location was chosen for several reasons. Pulaski provided obvious benefits, including its proximity to the Interstate 81-77 corridor and the fact it is within several miles of one of our primary customers. However, the determining factor in our decision to locate in Pulaski was the quick response and assistance given by all levels of government. Not only did the City, County and State put together an attractive package in short order, they also provided much needed networking assistance including, but certainly not limited to, potential customers and suppliers. The funding secured will enable us to position our company at the leading edge of technology industry-wide. We look forward to being a part of the Pulaski community as well as a part of the Town's long term growth plans."
Gov. Bob McDonnell said, "It is outstanding that Virginia is home to Volvo Trucks' largest assembly plant in the world, resulting in Falls Stamping & Welding Company's decision to establish an operation in Pulaski as a supplier to this major vehicle manufacturer. The benefit of close proximity between the metal parts supplier and vehicle assembler will allow savings on transportation costs and a quicker product turn-time for customers. Falls Stamping is able to repurpose an existing facility in downtown Pulaski that will help revitalize the community, and provide 112 valuable jobs. The company is a tremendous addition to Virginia's growing automotive cluster, and we look forward to its future success in the Commonwealth."
As an incentive, Virginia Economic Development Partnership worked with the Town of Pulaski, Pulaski County, and the New River Valley Economic Development Alliance to secure the project for Virginia. Governor McDonnell approved a $175,000 grant from the Governor's Opportunity Fund to assist Pulaski and Pulaski County with the project. The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company's recruitment and training activities.
"The transformation of a former textile facility into a modern stamping and welding operation furthers the Town's strategy of redevelopment," said Pulaski Mayor Jeff Worrell. "We look forward to working with more suppliers who can use our existing resources to expedite the supply chain."