RICHMOND - Governor Bob McDonnell announced today that Balchem Corporation (NASDAQ: BCPC) will make an initial investment of approximately $10 million to establish an operation in Alleghany County. The company will manufacture encapsulated ingredients for global applications in animal nutrition and health products, creating 55 new jobs over the next 2-3 years.
Speaking about today’s announcement, Governor McDonnell said, “Alleghany County proved to be an ideal location for Balchem Corporation’s first Virginia operation. The strategic location with direct access to Interstates 64 and 81 allows the company to easily serve its domestic customer base in the Northeast and Midwest, and serves as close port proximity for its growing international markets. In addition, the region offers an incredibly talented and ready labor force. Balchem will eventually provide a total of 55 new jobs and help contribute to the diversification of Alleghany's manufacturing sector, and we thank the company for this significant investment in the Commonwealth.”
“Balchem Corporation’s new manufacturing operation is welcome news for an area that is continuing to rebound economically,” said Jim Cheng, Virginia Secretary of Commerce and Trade. “Virginia’s business cost advantages put us ahead of the competition, and Alleghany County offered the infrastructure and workforce to meet the company’s needs.”
Headquartered in New Hampton, New York, Balchem Corporation consists of three business segments: ARC Specialty Products; Food, Pharma and Nutrition; and Animal Nutrition and Health. Through ARC Specialty Products, Balchem provides specialty-packaged chemicals for use in healthcare and other industries. The Food, Pharma and Nutrition segment provides proprietary microencapsulation, granulation and agglomeration solutions to a variety of applications in the human food, pharmaceutical and nutrition marketplaces. The Animal Nutrition and Health segment manufactures and supplies products to numerous animal health markets and certain derivative products into industrial applications.
“The state, regional and local economic development organizations were excellent to work with, providing us with timely information about the benefits of Virginia and Alleghany County,” said John Kuehner, Vice President of Operations, Balchem Corporation. “We evaluated raw material supply, customer locations, trade infrastructure support, and overall costs of doing business. These factors, combined with a significant incentive package, led us to this decision.” According to Dr. Dana Putnam, Vice President and General Manager, Balchem Animal Nutrition and Health, “This investment will provide Balchem with world-class manufacturing capabilities that allow us to match the rapidly growing demands for our products and technology in the Animal Nutrition and Health industry. From this, we can continue to advance solutions that aid in gains in animal productivity and health while reducing the environmental impact of contemporary feeding programs.”
The Virginia Economic Development Partnership worked with Alleghany County, the Alleghany Highlands Economic Development Corporation and the Roanoke Regional Partnership to secure the project for Virginia. Governor McDonnell approved a $150,000 grant from the Governor’s Opportunity Fund to assist Alleghany County with the project. The company is eligible to receive benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the Company’s recruitment and training activities.
“Today is a great day in Alleghany County,” said Stephen A. Bennett, Chairman of the Alleghany County Board of Supervisors. “Balchem is a growing, successful company that is making an investment in our community, diversifying our manufacturing base, and creating excellent jobs for our citizens. It’s exactly the kind of company that makes Alleghany County an even better story to tell.”