A Floyd County manufacturer will expand its operations, investing $40.2 million and creating 25 new jobs, according to announcement by Gov. Glenn Youngkin.
Hollingsworth & Vose (H&V), a global manufacturer of advanced materials used in filtration, battery, and industrial applications, will add over 28,000 square feet to its facility at 365 Christiansburg Pike Northeast to accommodate new production equipment to meet increased demand. Virginia successfully competed with Georgia for the project, which will create 25 new jobs, the governor’s office said.
The average pay for these jobs is expected to be about $50,000 per year, according to Floyd County economic development director Lydeana Martin. The average wage in the county is currently about $36,000.
H&V dates back to 1892 and is headquartered in East Walpole, Massachusetts. The company has been family-owned for seven generations. In 1976, H&V established its first Virginia facility in Floyd County and employs over 200 workers.
The Virginia Economic Development Partnership worked with Floyd County to secure the project for Virginia. Governor Youngkin approved a $558,700 grant from the Commonwealth’s Opportunity Fund to assist Floyd County with the project.