RICHMOND - Governor Timothy M. Kaine today announced that Corning, Incorporated, a diversified technology company, plans to invest $12 million over the next three years to expand its Specialty Materials Division in Danville, creating 50 new jobs. The facility’s current Danville operations will expand with the addition of new product lines, the first of which is a polarized glass product used primarily in laser telecommunications.
“Collaboration between Corning and the Commonwealth’s research assets was a key factor in this expansion,” said Governor Kaine. “The new research and development partnership between Corning, the Institute for Advanced Learning and Research, and Virginia Tech formed as a result of this project and is promising news for the region.”
Corning Incorporated (NYSE: GLW) combines its expertise in specialty glass, ceramic materials, polymers, and the manipulation of the properties of light with strong process and manufacturing capabilities to develop innovative products for the telecommunications, information display, environmental, semiconductor, and life sciences industries. Corning also operates an Environmental Technologies Division in Montgomery County, Virginia.
“Corning has enjoyed a long, successful history of doing business in the state of Virginia,” said Jim Steiner, senior vice president and general manager, Corning Specialty Materials. “The importance placed upon continued development of manufacturing by both the city of Danville and state of Virginia is most encouraging to us as we look to continue to build on our presence in this area.”
The Virginia Economic Development Partnership worked with the City of Danville and Virginia Secretary of Technology Aneesh Chopra to secure the project for Virginia. Governor Kaine approved a $150,000 grant from the Governor’s Opportunity Fund to assist Danville with the project. The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. The Virginia Department of Business Assistance will provide training assistance through its Workforce Services Jobs Investment Program.
“Corning ranks among the top global firms committed to research and development,” said Secretary Chopra. “We are so pleased with Corning’s decision to partner with Virginia’s high quality research assets. Together, we hope to build tomorrow’s globally competitive products manufactured in Danville.”
Danville City Manager, Jerry L. Gwaltney said, “Today we announce a great achievement for the City of Danville and Corning – a $12 million investment that will yield 50 new jobs for our community. Danville has proven, once again, that hard work and dedication to our existing industries will result in expansion projects which are critical drivers in at least three areas: the retention and expansion of existing jobs, the increased tax base resulting from private investment, and the introduction of new products that help position Danville as a leader. We congratulate Corning, and share in their success, as they continue to compete in a global economy.”