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Ashland Inc. To Expand Manufacturing Operation At Its Hopewell, Virginia, Campus

Ashland Inc., a leading global specialty chemical company, will invest approximately $89 million over the next three years to expand its manufacturing operation, significantly increasing production, in Hopewell, Virginia.

“We believe the business climate in Virginia makes Hopewell an attractive site for this investment as we continue to benefit from the significant infrastructure and talented workforce we have in place,” said Luis Fernandez-Moreno, Senior Vice President of Ashland and President, Ashland Specialty Ingredients. “This expansion will allow us to improve our competitive position, enhance service to our customers and support new growth opportunities in the marketplace.”

Ashland Inc. is a global leader in providing specialty chemical solutions to customers in a wide range of consumer and industrial markets, including architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceuticals. Through its three commercial units – Ashland Specialty Ingredients, Ashland Performance Materials and Valvoline – the company uses good chemistry to make great things happen for customers in more than 100 countries.

As an incentive, Virginia Economic Development Partnership worked with the City of Hopewell and Virginia’s Gateway Region to secure the project for the Commonwealth. The Port of Virginia also provided valuable assistance. Governor McAuliffe approved a $700,000 performance-based grant from the Virginia Investment Partnership program, an incentive available to existing companies.

The company may also be 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.

Governor Terry McAuliffe said, “I am thrilled to announce this significant investment demonstrating Ashland’s continued commitment to Virginia and to the City of Hopewell. Ashland, one of the Fortune 500 companies that calls Virginia home, is a vital employer in the area, providing the kind of jobs that are critical as we work to create a diverse, new Virginia economy.”

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