V-T Industries is expanding its production of laminate countertops, architectural wood doors, and stone surfaces in Hagerstown, Maryland. The company will invest $11 million and create up to 135 jobs in the next three years. V-T expects to be fully operational by the second quarter of 2011.
"Hagerstown's proximity to our expanding market is a perfect fit for V-T Industries and we are looking forward to the opening of this facility," said Doug Clausen, president and CEO of V-T Industries.
The Maryland Department of Business and Economic Development (DBED) has offered V-T a $150,000 conditional loan, and has also extended the company a $10 million private activity bond to assist with the purchase and renovations of their new Hagerstown facility and equipment costs. The Washington County Board of County Commissioners has approved a $112,500 conditional loan for the project. And the project has been approved to participate in the county's Fast Track Construction Program, which will expedite the review and approval process for any upgrades needed to the facility.
V-T has headquarters in Holstein, Iowa, and major clients include Home Depot and Lowes.