RICHMOND - Governor Mark R. Warner tonight announced that Texturing Services Inc., a manufacturer of custom specialty yarns, is investing $14 million to relocate its operations to Henry County from Reidsville, N.C. The manufacturing facility will move into the Bassett Walker Building and plans to employ 200 people in the next 30 months. The Governor made the announcement during his annual State of the Commonwealth address.
“This announcement demonstrates my administration’s continuing effort to transform the economy of the region,” said Governor Warner. “We used the resources of the Governor’s Opportunity Fund to attract the project and now Texturing Services brings new technology and stable, good paying jobs to Henry County.”
In business since 1987, the company texturizes synthetic filament yarns for use in the automotive; residential/contract/hospitality upholstery; apparel and industrial weaving; and knitting markets. Texturing Services produces more than 300,000 pounds of yarn weekly to serve 35 national and international customers. Texturing Services’ average annual starting wage is $29,286 – more than $3,000 higher than the current average annual wage in Henry County. The company plans to be operational in its Henry County facility by late summer and will begin hiring in late spring.
“We are delighted to be relocating to Martinsville and Henry County, Va.,” said Ken Norman, Executive Vice President of Texturing Services, Inc. “Having outgrown our present manufacturing facility, we have been searching for the proper location. Our continued success depends on our ability to quickly exploit product development and growth opportunities in the global textile markets. A clean, safe, and environmentally controllable manufacturing facility, an educated workforce and proximity to major interstate highways are key elements to our strategy. Virginia’s pro-business climate along with the efforts of the state and county’s business recruiting teams has convinced us that Martinsville and Henry County meets our present and future needs and should be our new home.”
The Virginia Economic Development Partnership worked with Henry County and the Martinsville-Henry County Economic Development Corporation to prepare the state’s proposal and negotiate an incentive package to secure the project for Virginia. Governor Warner approved a $250,000 grant from the Governor’s Opportunity Fund to assist Henry County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission also lent its support to the project by approving $250,000 in Tobacco Region Opportunity Funds. The Virginia Department of Business Assistance will provide training through its Workforce Services Program.
“We are thrilled to welcome TSI to Henry County,” said Henry County Board of Supervisors Chairman Paula Burnette. “We have been saying for a while now that Henry County is on the rebound, and TSI’s decision to join our effort further solidifies our comeback. This is a quality company that fills a niche in the market, and I know its business will only get better.”