Hubbell Lighting, Inc. and Wolverine Advanced Materials receive $406,500 in grants from the Port of Virginia
~ Port of Virginia gives $406,500 in grants to Hubbell and Wolverine through their Economic and Infrastructure Development Grant~
FOR IMMEDIATE RELEASE
August 23, 2017
The Port of Virginia
Contant: Joseph D. Harris
NORFOLK, VA – Seven companies located throughout the Commonwealth are recipients of grant money from The Port of Virginia® Economic and Infrastructure Development Grant Program that is designed to encourage investment, reinvestment and job creation among companies in Virginia that are port users.
In fiscal year 2017, the seven recipient companies combined to create 1,132 jobs with Winchester-based Rubbermaid Commercial Products having added 224 new positions. Port representatives today presented a check for $500,000 – the maximum grant allowed – to officials from Rubbermaid’s leadership team.
“The Rubbermaid Commercial Products facility is strategically located in Winchester where, for years, it has been moving its products through the Virginia Inland Port,” said John F. Reinhart, CEO and executive director of the Virginia Port Authority. “The company’s success is evident and the reinvestment has led to job growth and benefits to the Commonwealth. This grant, we hope, will encourage continued growth for this valued port user.”
“As a proud member of the Commonwealth’s business community, we’re thrilled to receive this recognition from the Virginia Port Authority,” said Paul Bryant, senior manager of operational excellence for Rubbermaid Commercial Products. “Rubbermaid Commercial Products will continue investing in our hard working and dedicated employees who have distributed and produced high quality products from our facility right here in Virginia since 1968. We thank The Port of Virginia and Winchester community, in particular, and look forward to continuing to serve the community for many years to come.”
The recipients of this year’s Economic and Infrastructure Development Grant Program, the jobs created and grants amounts are:
• Continental Automotive Systems 139 $417,000 Newport News
• Friant & Associates, LLC 105 $315,000 Suffolk
• Haulotte U.S. Inc. 35 $35,000 Virginia Beach
• Hubbell Lighting, Inc. 105 $315,000 Christiansburg
• Rubbermaid 224 $500,000 Winchester
• Target Corp. 463 $500,000 Suffolk
• Wolverine Advanced Materials 61 $91,500 Blacksburg
The Port of Virginia Economic and Infrastructure Development Grant Program is designed to incentivize certain, qualified companies to build new, or reinvest in existing maritime-related employment centers in order to encourage and facilitate the growth of the port.
The statutory provisions for the POV Grant can be found at Section 62.1-132.3:2 of the Code of Virginia.
Subject to appropriation, the grant is available from January 1, 2014 until June 30, 2020. The maximum amount of grant allowable per qualified company is $500,000 and the maximum amount of POV Grants allowable among all Qualified Companies in any given fiscal year is $5 million. In fiscal year 2017 (July 1, 2016 – June 30, 2017), the combined total of the grant program is $2.17 million.
The Virginia Port Authority (VPA) is a political subdivision of the Commonwealth of Virginia. The VPA owns and through its private operating subsidiary, Virginia International Terminals, LLC (VIT), operates four general cargo facilities Norfolk International Terminals, Portsmouth Marine Terminal, Newport News Marine Terminal and the Virginia Inland Port in Warren County. The VPA leases Virginia International Gateway and Richmond Marine Terminal. In fiscal year 2013, The Port of Virginia provided more than 374,000 jobs and generated $60.3 billion in total economic impact throughout the Commonwealth.
About Montgomery County, Virginia
County, Virginia - home of Virginia Tech and the towns of Blacksburg
and Christiansburg - is a progressive, technology-driven community with
an abundance of outdoor amenities. The Montgomery County Economic
Development Department actively supports the startup, retention and
expansion of companies in Montgomery County as well as the recruitment
of new businesses to the community. To learn more, visit www.YesMontgomeryVA.org