Altec Industries, a leading provider of products and services to the electric utility, telecommunications, tree care, lights and signs, and contractor markets, will invest $30.2 million to expand its manufacturing operation in Botetourt County, Virginia. The project is created to create 180 new jobs in the Commonwealth.
“We are able to grow in Virginia and in Botetourt County because this is a pro-business environment with the logistics and infrastructure to help Altec succeed,” said John Herrig, Plant Manager, Altec Industries.
The Virginia Economic Development Partnership worked with Botetourt County and the Roanoke Regional Partnership to secure the project for Virginia. Governor McAuliffe approved a $400,000 Commonwealth’s Opportunity Fund to assist the County with the project.
Altec will also receive a $300,000 performance-based grant from the Virginia Investment Partnership program, an incentive available to existing companies, to assist the County with the project. Additional funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“Altec Industries' continued success is a great example of how our Commonwealth’s outstanding business climate continues to benefit companies and Virginia families,” said Governor Terry McAuliffe. “This expansion will create jobs and economic opportunity in the Roanoke region and send a clear signal to other manufacturing firms that Virginia is the right place to locate and grow. Altec is a valuable employer in the Roanoke region, and creating these high-quality jobs is a great step forward as we continue to build a new Virginia economy.”
“Altec Industries has a well-established reputation as an outstanding corporate steward in Botetourt County, and this major expansion further reinforces the company's commitment to the region and to Virginia,” said Secretary of Commerce and Trade Todd Haymore. “With more than 240,000 Virginians employed in manufacturing, Altec will continue to benefit from our robust workforce and tailored training programs to support the growing industry. We are always proud to work with and support the Commonwealth's existing businesses, which create more than 70 percent of our jobs.”
“Today’s announcement reaffirms that Botetourt Center at Greenfield is an excellent location for high-value, advanced manufacturing,” said Todd Dodson, Vice-Chairman of the Botetourt County Board of Supervisors. “The Board of Supervisors and Botetourt County staff are committed to supporting our existing businesses and helping them grow and prosper here.”
“Altec Industries’ announcement is proof that today’s manufacturing industry is a job-creating engine in Virginia,” said Congressman Bob Goodlatte. “I am pleased to congratulate Altec on its fifth expansion and welcome new jobs to Botetourt County. I look forward to seeing how Altec continues to grow and add value to our local economy.”