Laminating company to add 42 jobs in Henry County
Laminate Technologies Inc. to invest $4M in expansion
Custom laminating company Laminate Technologies Inc. will invest $4 million to expand its Henry County facility in Ridgeway, creating 42 jobs, Gov. Ralph Northam announced Friday.
The company’s manufacturing facility, which opened in 2012, is located at 775 Industrial Park Drive, where an automated hardwood plywood press line will be installed to increase its capacity and production.
“With our skilled workforce, competitive operating costs and access to key markets, manufacturers like Laminate Technologies are finding opportunity in Virginia,” Northam said in a statement. “Expansions in the advanced manufacturing sector will aid our economic recovery during this ongoing pandemic, and we look forward to partnering with the company on its next phase of growth in Henry County.”
Based in Ohio, Laminate Technologies was founded in 1985 as a laminated panel product, fabricated component and furniture product supplier. It has manufacturing facilities in Ohio, Oregon, Tennessee, Texas and Virginia. The commonwealth competed with Ohio for the expansion.
“We studied several of our East Coast production facilities for expansion but selected our Ridgeway, Virginia, location for multiple reasons, including the solid workforce, proximity to customers and supply chain logistics,” Laminate Technologies Chief Operating Officer Randy Joseph said in a statement. “Adding hardwood plywood production to our current lamination and fabrication capabilities provides a great product synergy. This, coupled with our neighboring supply partner, Southern Finishing in Martinsville, enables us to bring a lot of value to the market.”
The Virginia Economic Development Partnership (VEDP) worked with the Martinsville-Henry County Economic Development Corporation on the project, and Northam approved a $100,000 Commonwealth’s Opportunity Fund grant to help Henry County with the project.
Laminate Technologies is eligible for Port of Virginia Economic and Infrastructure Development Zone Grant Program benefits as well as benefits from the Virginia Enterprise Zone Program. The Virginia Talent Accelerator Program will provide recruitment and training services.