Coperion Corporation, in collaboration with local real estate developer WYCO, LLC, will invest more than $3 million to expand its manufacturing operation in Wythe County, Virginia.
A wholly owned subsidiary of Germany-based Hillenbrand, Inc., Coperion is the world market and technology leader for compounding systems, bulk materials systems, components and services. The project is expected to create 22 new jobs.
Governor Terry McAuliffe said, “I am thrilled to announce the expansion of a powerful public company like Coperion in Wythe County. Creating quality jobs in the advanced manufacturing sector is one of the most important ways we can build a new Virginia economy, and we look forward to Coperion’s continued growth and success in Southwest Virginia.”
“Coperion Corporation’s expansion is terrific news for Wythe County and the region,” said Maurice Jones, Virginia Secretary of Commerce and Trade. “This project is strategically important in that it brings new jobs and capital investment to an area in need, and also represents further growth opportunities for the operation as it expands and adds equipment and production capabilities.
“We’re excited to expand our operations in Wytheville,” said Robert DiMarino, Vice President Operations, Coperion Corporation. “We’ve been extremely pleased with the dedicated employees at our existing operation here, and that was a big factor in our decision. We also appreciate the support of the Commonwealth, Wythe County and the Town of Wytheville, the Virginia Economic Development Partnership, and Virginia’s aCorridor in making this project a reality.”
As an incentive, Virginia Economic Development Partnership worked with Wythe County and Virginia’s aCorridor to help secure the project for Virginia. Governor McAuliffe approved a $75,000 grant from the Governor’s Opportunity Fund to assist Wythe County with the project.
In addition, Virginia Tobacco Indemnification and Community Revitalization Commission approved $80,000 in Tobacco Region Opportunity Funds for the project. The company will also receive benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.