Gov. Northam announces $9.2 million investment to bring 34 new jobs to Lynchburg
LYNCHBURG, Va. (WSET) -- Governor Ralph Northam announced Tuesday that Tessy Plastics, a premier molder of custom injection molded plastic components, will invest $9.2 million to expand its manufacturing operation to accommodate a new product line in the City of Lynchburg.
Virginia won the expansion over New York, which will bring 34 new jobs to the City.
“Virginia's strategic Mid-Atlantic location, superior transportation network, and competitive operating costs make the Commonwealth an optimal home for plastics and advanced materials companies, as evidenced by the more than $1 billion invested in the industry in the past decade. We look forward to continuing our strong corporate partnership with Tessy Plastics, and thank the company for choosing to grow in Lynchburg," said Governor Northam.
Tessy Plastics specializes in injection mold building, with the capability to design and build multiple cavity injection molds, injection mold repair, injection mold engineering changes, and injection mold maintenance services.
“Tessy Plastics is an incredibly valuable corporate citizen. We are thrilled that they have chosen to reinvest in Lynchburg for this project, reinforcing the City as a great place to live, work and play," said Mayor Joan Foster.
The Virginia Economic Development Partnership worked with the City of Lynchburg and the Lynchburg Regional Business Alliance to secure the project for Virginia. Governor Northam approved a $200,000 Commonwealth’s Opportunity Fund to assist the City with the project.
Tessy Plastics is eligible to receive additional grants and state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development, and will also be eligible to receive Sales and Use Tax Exemptions on manufacturing equipment.
Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
