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PGI To Expand In Virginia

March 31, 2010

$65 million investment will add 41 jobs.

Polymer Group, Inc. will invest a reported $65 million to expand its Waynesboro, VA. The investment will include the purchase of high-technology equipment to establish a new manufacturing line and increase production as well as the expansion of the current building in order to accommodate the new line. The project will also create 41 new jobs.

“An investment of this magnitude and the creation of 41 new jobs is important for Waynesboro and important for the manufacturing sector in Virginia,” said Virginia governor Bob McDonnell. “PGI has experienced success in the Commonwealth, and this planned expansion enables the company to increase both production and product capabilities with state-of-the-art new equipment. The project ensures that PGI will continue to build on its progress in Waynesboro.”

Virginia successfully competed against North Carolina for the project.

“This planned expansion in product capability and capacity is part of PGI's ongoing strategy to provide superior solutions to the marketplace and meet our customers' needs,” said PGI CEO Veronica Hagen. “The efforts of the Virginia Economic Development Partnership and local Waynesboro officials to address and meet our unique needs through their combined incentive package have allowed us to make this planned expansion possible in Waynesboro."

The Virginia Economic Development Partnership worked with both the City of Waynesboro and the Shenandoah Valley Partnership to secure the project for Virginia. Delegate Steve Landes also assisted with the project.Governor McDonnell approved a $750,000 grant from the Governor’s Opportunity Fund to assist Waynesboro with the project. Governor McDonnell also approved $750,000 in a performance-based grant from the Virginia Investment Partnership (VIP) program, an incentive available to existing Virginia companies. The Virginia Department of Business Assistance will provide new job training assistance through the Virginia Jobs Investment Program.