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Veronica Garabelli// September 20, 2013//
A company that serves tire manufacturers will establish an operation in Danville, creating 120 jobs. North American Mold Technology (NAMT) will invest $4.35 million to produce and refurbish the molds used in the manufacture of tires. NAMT’s customers will include almost all major tire manufacturers in the U.S.
The company’s equipment will enable conventional servicing, as well as re-cuts, lettering and sidewall manufacturing. NAMT will be establishing its operation in a 260,000-square-foot facility. Virginia competed against Ohio for the project.
Gov. Bob McDonnell approved a $250,000 grant from the Governor’s Opportunity Fund for the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $520,000 in Tobacco Region Opportunity Funds. The company also is eligible to receive state benefits from the Virginia Enterprise Zone Program. Through Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the NAMT’s recruitment and training.
