Manufacturer plans $4.2 million expansion in Botetourt County
Capco Machinery Systems Inc. is planning a $4.2 million expansion of its manufacturing plant in Botetourt County.
The expansion at the EastPark Commerce Center is expected to create 30 jobs paying an average of $60,000 a year.
The company said it decided to expand in Botetourt rather than build a new plant in China.
Capco makes computer numerical control (CNC) roll grinding machines. They are used in rolling mills to produce foil, sheet and plate for steel, stainless steel, aluminum, copper, brass, nickel, titanium and other high technology metals.
The new jobs created by the expansion will include positions for engineers, machinists, mechanical and electrical technicians and machinists.
“Capco exports 95 percent of its products outside of the United States, so the option of expanding overseas was tempting, but my desire to stay in Botetourt County and keep the jobs in the U.S. was much stronger,” Edward West III, Capc's chairman, president and CEO, said in a statement.
The expansion will provide Capco with a two-fold increase in the machining and assembly areas of its manufacturing facilities.
Construction, which will start Monday, is expected to be completed by Aug. 8, 2014.
Botetourt County is providing a local performance grant up to $99,900 over four years to reimburse a portion of the company’s investment costs.
Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company’s recruitment and training activities.