Richmond - Governor Mark R. Warner today announced that Schrader Bridgeport International Inc., a leading supplier of automotive tire and control valves and accessories, will expand its operations in Campbell County's Town of Altavista. The company will make a $5.1 million investment and create 50 new jobs over the next 30 months.
The announcement is one of four automotive expansions that Governor Warner unveiled today, totaling more than 400 new jobs and $58 million in capital investment across the state. The Commonwealth's automotive and automotive parts manufacturing facilities employ more than 25,000 Virginians. Governor Warner - an active supporter of the industry - traveled to the Detroit area earlier this year to meet with automotive executives at the Automotive News World Congress. In June, Governor Warner joined Ford Motor Company Chairman and CEO Bill Ford, Jr. at the company's 100th Anniversary Celebration launching the new F-150 at the Norfolk Assembly Plant.
"Schrader Bridgeport has been manufacturing in Altavista for more than 35 years," said Governor Warner. "I am pleased to announce this investment from a long-time corporate citizen. The automotive industry employs thousands of people in Virginia and we will continue to assist companies like Schrader Bridgeport expand."
Schrader Bridgeport International, Inc. was originally founded by August Schrader in 1844 when he designed and built the first foolproof air valve in conjunction with three young brothers by the name of Goodyear. August Schrader made his first profit in another air control application, the first safe, yet heavy, copper underwater diving helmet in 1849. Schrader's air control valves lead to the mass production of balloon tires for the horseless carriage. Today, Schrader Bridgeport sets the worldwide standard for tire valves whether it's automotive, Class 8 trucks, Harley Davidson or mountain bikes. Currently, SBII produces four million valves per day and has evolved into the world's largest designer and manufacturer of integrated pneumatic and fluid control valve systems. Schrader valves can be found in automotive fuel rails, engine controls, air conditioning systems, transmissions and are already in production for the regulation of hydrogen fuel cells.
"We are excited that Schrader Bridgeport is expanding in Altavista," said Mayor Rudy Burgess. "They are an excellent corporate citizen, and we are pleased to assist them with this project."
Governor Warner approved a $75,000 grant from the Governor's Opportunity Fund to assist the Town of Altavista with the project. The town also obtained $75,000 in Tobacco Region Opportunity Funds from the Virginia Tobacco Indemnification and Community Revitalization Commission. The Virginia Economic Development Partnership, the Town of Altavista and Campbell County assisted Schrader Bridgeport with its decision. The Virginia Department of Business Assistance will provide workforce training services.
"Schrader Bridgeport's announcement is great news for Campbell County and the Town of Altavista," said Calvin Carter, Chairman of the Campbell County Board of Supervisors. "It confirms that Campbell County and Altavista is a great place for a company to grow and prosper."