Manufacturer plans $40.2M expansion in Floyd

Massachusetts-based advanced materials manufacturer Hollingsworth & Vose will invest $40.2 million to expand its Floyd County operation, a project expected to create 25 jobs, Gov. Glenn Youngkin announced Tuesday.

H&V will add more than 28,000 square feet to its facility at 365 Christiansburg Pike NE to accommodate new production equipment.

“Hollingsworth & Vose has generated positive economic impact and job opportunities in Floyd County for more than four decades, and this significant investment further solidifies the company’s commitment to Virginia,” Youngkin said in a statement. “Businesses with a long history of expansion in the commonwealth offer powerful testimonials on why a Virginia location is a foundation for success.”

H&V was incorporated in 1892 and has been family-owned for seven generations. The company produces advanced materials used in filtration, battery and industrial applications. It has more than 200 employees.

“We’ve been a part of the Floyd, Virginia, community since 1976. This facility is essential to serving both our global and domestic customers,” H&V CEO Josh Ayer said in a statement. “We chose Virginia for this expansion because of its positive business environment and strong support from the commonwealth of Virginia and Floyd County.”

The Virginia Economic Development Partnership worked with Floyd County to secure the project, for which Virginia competed with Georgia. Youngkin approved a $558,700 grant from the Commonwealth’s Opportunity Fund to assist Floyd County with the project.