Wagoner said local incentives include an estimated $ 139,000 in corporate zone discounts and a local cash grant of $ 50,000. The Henry County Board of Supervisors and the Industrial Development Authority must approve the service agreement with LamTech at their next meetings, he added.
In the governor's press release, Randy Joseph, LamTech's chief operating officer, said the company was considering multiple manufacturing facilities on the east coast but chose to expand the Ridgeway site for a number of reasons, including solid reasons, including the solid workforce, proximity to customers and the logistics of the supply chain. ”
“Adding hardwood plywood to our current lamination and manufacturing capabilities is a great product synergy. Together with our neighboring supply partner Southern Finishing in Martinsville, we can bring so much value to the market, ”said Joseph. “Special thanks to the Virginia Economic Development Partnership and Martinsville-Henry County Economic Development teams for their incredible support and collaboration to make this expansion possible.”
According to the press release, LamTech is “one of the largest privately owned custom laminators in the US”. The company began in Tiffin, Ohio in 1985 as a supplier of laminated panel products, manufactured components and products from around the world for the kitchen cabinet, home furniture, office furniture and retail display.