Montgomery Co. ranks 8th in Virginia for 2011 Business Announcements


February 23, 2012

Montgomery County, Va. – Montgomery County was one of the busiest places in all of Virginia last year. In 2011, seven new or expanding companies announced plans to invest $43.5 million and create 572 new jobs in the community. Out of 134 counties/cities in Virginia, Montgomery County ranked 8th for job creation, 15th for investment and tied for 8th most number of business announcements.

These findings are according to a recent analysis of data contained in the Virginia Announcements Database by the Montgomery County Economic Development Department. The database – which is maintained by the Virginia Economic Development Partnership - tracks direct investments and new jobs created in Virginia as a result of publicly announced plans by new or expanding companies who have a substantial customer base outside the state - also known as ‘basic employers.’

According to the analysis, 2011 was one of the best years in recent memory for business announcements in Montgomery County and the fourth year that planned job creation has increased. The year marked both the most planned job creation since 2001 (700 jobs) and highest announced investment since 2004 ($44.1 million).

Business Announcement Totals,
Montgomery County, Va. 2011 to 2001

Year

Count

New Jobs

Investment (M$)

2011

7

572

$43.5

2010

 6

320

$3.5

2009

4

241

$7.6

2008

4

146

$12.8

2007

2

24

$0.4

2006

9

300

$21.1

2005

6

167

$6.5

2004

7

466

$44.1

2003

8

72

$15.2

2002

2

105

$0.0

2001

4

700

$32.1

Source: Virginia Announcements Database, 2/23/2012

Montgomery County’s 2011 totals were heavily influenced by three major announcements that occurred during 2011:

  • Modea (March) – a digital advertising agency, announced its intentions to invest $10 million in a new corporate headquarters in downtown Blacksburg and to create 200 jobs within the next five years. Modea has already begun to hire additional employees and expects to start construction on its new 100,000-square-foot LEED certified building in 2013. 
  • Federal Mogul Corporation (October) – a leading global automotive supplier, announced plans to invest $10 million to install additional manufacturing lines and equipment at its operations in the Blacksburg Industrial Park. Their expansion is expected to be completed during 2012 and should result in the creation of 50 new jobs at the facility. 
  • Backcountry.com (October) – the largest online specialty retailer of premium outdoor gear, announced that it would invest $20.5 million to establish an East Coast fulfillment center in Christiansburg. Construction on its 315,000-square-foot facility in Falling Branch Corporate Park is currently underway and is expected to be finished and operational by Fall 2012.  The facility will be expandable to 425,000-square-feet and is anticipated to employ 216 full-time employees. 

Other companies announcing expansion plans in Montgomery County included CCS, Inc., and its two subsidiaries – FoxGuard Solutions and Qualtrax – of Christiansburg, as well as Prime Photonics of Blacksburg. 

In addition to Montgomery County, the entire region posted impressive business announcement totals last year. In 2011, 30 new or expanding companies announced plans to create 1,671 jobs and invest $404.2 million in the Roanoke and New River Valleys.

The City of Covington had just one business announcement in 2011 – MeadWestvaco Corp. – but led the region with $285 million in newly planned investment. The next closest investment totals were Montgomery County with $43.5 million and Botetourt County with $35.7 million.

New job announcements were primarily concentrated in four counties/cities within the Roanoke and New River Valleys. Ninety-five percent of the region's new jobs were announced in Montgomery County (572 jobs), Botetourt County (426 jobs), Roanoke City (411 jobs) and Pulaski County (181 jobs).

Business Announcements by County/City, Roanoke & New River Valleys, 2011.

County/City

Company

Business Type

New Jobs

Investment (M$)

Botetourt County

426

$35.68 

 

Altec Industries, Inc.

Truck-mounted mobile equipment manufacturing

48

$0.52

 

Arkay Packaging Corp.

Consumer products packaging

25

$7.50

 

Canatal Steel USA, Inc.

Fabricates and installs steel beams

100

$1.00

 

Dynax America Corporation

Automobile transmission parts

95

$15.66

 

FCTech

Manufactures specialty optical fiber and cables

 25

$5.00

 

TREAD Corporation

Manufactures explosives-handling equipment and bulk trucks

100

$5.00

 

Virginia Forge Company

Automotive wheel bearing braces

33

$1.00

Covington City

0

$285.00

 

MeadWestvaco Corp.

Bleached paperboard

0

$285.00

Floyd County

0

$4.3

 

Hollingsworth & Vose Company

Non-woven fabrics for the window covering industry

0

$4.3

Montgomery County

572

$43.50

 

Backcountry.com

Online retailer of outdoor gear; East Coast fulfillment center

216

$20.50

 

CCS, Inc.

Designs, manufactures, and integrates industrial and embedded computers

40

$1.00

 

Federal-Mogul Corporation

Automotive engine bearing manufacturing

50

$10.00

 

FoxGuard Solutions, Inc.

Provides compliance and cyber security solutions to critical infrastructure and key resources sectors

20

$1.00

 

Modea

Designs product-focused media; advertising agency

200

$10.00

 

Prime Photonics

Designs and manufactures photonic sensor systems

36

$0.00

 

Qualtrax, Inc.

Compliance management software

10

$1.00

Pulaski County

 181

$21.80

 

BimmerWorld

Distributes specialized automotive racing parts and equipment

36

$2.50

 

Blue Bird Resins

Processes used industrial plastic

25

$0.00

 

James Hardie

Distribution operations; fiber-cement siding

5

$1.00

 

Phoenix Packaging Operations, LLC

Manufactures thermoformed rigid plastic packaging

100

$17.50

 

Technical Service Group

Manufactures equipment and presses for the brake pad industry

 15

$0.75

Radford City

20

$3.00

 

TECHLAB, Inc.

Develops, manufactures, and distributes medical diagnostic products

20

$3.00

Roanoke City

411

$8.10

 

Corvesta Services, Inc.

Dental benefits and claims administration

35

$0.10

 

FreightCar America, Inc.

Manufactures railroad freight cars

200

$0.00

 

Maxx Performance

Food formulation technologies; R&D of flavoring ingredients

15

$0.70

 

Mercury Data Exchange

Real-time Electronic Data Interchange (EDI) solutions for the dental insurance industry

10

$0.10

 

Precision Technology USA, Inc.

Manufactures industrial linear motion actuators

26

$0.20

 

UnitedHealth Group

Customer support center; health insurance provider

125

$7.00

Roanoke County

 40

$2.68

 

Atlas Logistics

Warehouse/distribution; refrigerated foods

 40

$2.68

Salem City

 21

$0.20

 

Integrated Textile Solutions, Inc.

Manufactures industrial, military, and specialty textile products and apparel

21

$0.20

Total

1,671

$404.21

Source: Virginia Announcements Database, 2/23/2012

About Us

The Montgomery County, Virginia Economic Development Department's mission is to improve the quality of life throughout Montgomery County, including the incorporated ares of Blacksburg and Christiansburg, by encouraging positive economic growth that 1) creates meaningful career opportunities, 2) expands the commercial tax base, and 3) protects our enviable way of life. Learn More

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