COMMONWEALTH OF VIRGINIA
Office of the
Governor
Timothy M. Kaine
FOR IMMEDIATE RELEASE
Governor
May
31, 2007
Contact:
Kevin Hall
Phone: (804)
225-4260
Cell Phone: (804) 393-9406
Internet: www.governor.virginia.gov
Mike Cottrell
Christie Miller
Gates
Corporation
VEDP
303-744-5253
804-545-5805
www.gates.com
www.YesVirginia.org
GOVERNOR KAINE ANNOUNCES
172 NEW JOBS FOR WASHINGTON AND SMYTH COUNTIES
~ Gates Corporation to
invest approximately $8 million in first Virginia facility
~
RICHMOND – Governor Timothy
M. Kaine today announced that Gates Corporation, the largest non-tire rubber
manufacturer of automotive and industrial products, systems and components in
North America, will invest approximately $8 million to open its first Virginia facility in the Highlands Business Park, an industrial park jointly developed by Smyth
and Washington
counties. The company intends to create 172 new jobs. Virginia successfully competed with Tennessee for the
project.
“Gates is an impressive national corporation with international ties, and
will be a significant addition to Southwest
Virginia,” Governor Kaine said. “The company recognized a unique
location in Highlands Business Park, and will benefit from the skilled
labor force in the area.”
Headquartered in Denver, Colorado, Gates Corporation maintains sales and marketing
operations in every major automotive market, including North America, Europe,
Asia, Australia and
South America. Gates is part of the Industrial
and Automotive Group of Tomkins plc, a global engineering group listed on both
the London (TOMK) and New
York (TKS) stock exchanges, and with revenue in excess
of $6 billion in 2006. Tomkins plc has more than 34,000 employees worldwide and
enjoys strong market positions and technical leadership, and owns some of the
best-known brands in their respective markets.
“Stable economic conditions within the region along with an ideal
location to serve our customers drove the decision to locate our operations in
the Southwestern Virginia area,” said Mike
Cottrell, Vice-President North American Hydraulics and Worldwide Technology,
Gates Corporation.
The Virginia Economic Development Partnership worked with Washington County, Smyth
County, the Smyth-Washington Regional
Industrial Facilities Authority and Virginia’s
aCorridor to secure the project for Virginia. Governor Kaine approved $300,000
from the Governor’s Opportunity Fund to assist both counties with the project.
The Virginia Tobacco Indemnification and Community Revitalization Commission
approved $300,000 in Tobacco Region Opportunity Funds to support the project.
The company is eligible to receive state benefits from the Virginia Enterprise
Zone Program, administered by the Virginia Department of Housing and Community
Development, because it is locating in a Virginia Enterprise Zone. The Virginia
Department of Business Assistance will provide training assistance through the
Virginia Jobs Investment Program.
“We are excited to have the Gates Corporation choose our community to
locate its newest manufacturing facility, and we look forward to the company
being a long-term, stable employer for the region,” said Kenneth Reynolds,
Chairman of the Washington County Board of Supervisors.
“It is great to see the result of the hard work and cooperation of both
counties in the regional industrial park. We think that the Gates project will
not only create these jobs announced today, but will lead to additional private
investment in the park,” said Charlie Clark, Chairman of the Smyth County Board
of Supervisors.
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