Canadian-based Polycap Eyes U.S. Plant in Lebanon, Virginia
Headquartered in Toronto, Canada, Polycap is a leading manufacturer of specialty caps and closures for plastic packaging servicing personal care and home product, food and beverage container, medical device, and pharmaceutical product industries.
“In response to growing demand for its products, Polycap is opening its first U.S. location in Lebanon, Virginia, and we look forward to establishing a successful manufacturing center for our Cap and Closure business to best serve our customers with a highly efficient operation,” said Tom Lato, President of Polycap LLC.
“We are utilizing the most advanced industry technology to compete with any jurisdiction in North America. This will include consistent, reliable production to ensure supply chain continuity and quality for our valued customers. Our focus on a safe, vibrant work environment is attracting the best possible team for our future growth and development,” he said.
“We made the decision to choose Virginia, for what will eventually become our North American headquarters, over options in Ontario and Ohio because we believe Virginia offers the most to contribute to our success. Success is based on people, and Virginia offers excellent education to provide strong candidates for employment. Government at all levels, coupled with various industry associations, provides unprecedented incentive programs such as House Bill 222, which was spearheaded by Delegate Will Morefield and Delegate Lashrecse Aird. Local banks with a history of impressive performance provide the third leg of support. We hope to be able to contribute to the fabric of Lebanon community life and become a successful partner in business,” Lato added.
As an incentive, Virginia Economic Development Partnership worked with Russell County and the Virginia Coalfield Economic Development Authority (VCEDA) to secure the project for Virginia. Governor Northam approved a $130,000 grant from the Commonwealth’s Opportunity Fund to assist Russell County with the project. VCEDA approved a loan up to $3.37 million to the Industrial Development Authority of Russell County to build out the shell building for the project. VEDP will support Polycap’s job creation through the Virginia Jobs Investment Program. Polycap is also eligible to receive Sales and Use Tax exemptions on manufacturing equipment.
“We thank Toronto-based Polycap for choosing to locate its first U.S. manufacturing facility and future North American headquarters in the Russell County shell building, which was constructed in 2015 to attract companies seeking an infrastructure-ready facility,” said Governor Ralph Northam. “Growing the Southwest Virginia economy and making Virginia’s rural communities more competitive is a top priority for my administration, and we are pleased that this significant project will bring a new corporate partner and critical jobs to the region.”
“VCEDA was pleased to assist the Russell County IDA and the Town of Lebanon in recruiting this project to Lebanon,” said Jonathan Belcher, Executive Director and General Counsel for the Virginia Coalfield Economic Development Authority. “The company will be providing jobs in a diversified manufacturing sector that will add to the excellent base of manufacturing companies already operating in the region, while providing good manufacturing jobs for the citizens of Russell County and the surrounding area.”
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