Governor Terry McAuliffe announced today that Canada Metal (Pacific) Ltd., a Canada-based manufacturer of marine and industrial products, will invest $3 million to establish its first U.S. manufacturing operation in the City of Virginia Beach. The project will create 70 new jobs over three years.
Speaking about today’s announcement, Governor McAuliffe said, “Having an international company like Canada Metal (Pacific) Ltd. select Virginia Beach for its first U.S. manufacturing operation is testament to the Commonwealth’s ability to compete on a global playing field. My administration is committed to growing advanced manufacturing jobs that will help boost Virginia’s economy. We welcome Canada Metal to Virginia Beach and the Commonwealth.”
“The advanced manufacturing industry is thriving in Virginia, and we are pleased that Canada Metal (Pacific) Ltd. will establish its first U.S. manufacturing operation in the Commonwealth,” said Maurice Jones, Virginia Secretary of Commerce and Trade. “Virginia Beach is a leader in the U.S. manufacturing revival, and offers a skilled workforce, strategic location and the necessary infrastructure for Canada Metal to succeed and expands its market reach.”
Headquartered in Vancouver, British Columbia, Canada, Canada Metal (Pacific) manufactures and markets marine and industrial products and is the world’s largest producer of diecast marine anodes, some of which are used for offshore oil pipelines. The company also manufactures and markets the Octopus line of marine autopilot drive systems.
“CMP conducted a very comprehensive investigation as to where to establish its U.S. operation,” said Jim Stuart, Vice President of Business Development, Canada Metal (Pacific). “Virginia Beach came out ‘head and shoulders’ above all other locations due to its highly skilled labor force, excellent logistics, and, most importantly, having a culture that personifies our desire to be fully integrated within the community in which we conduct our business.”
The Virginia Economic Development Partnership worked with the City of Virginia Beach Department of Economic Development to secure the project for Virginia. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program. The company will also be eligible for Sales and Use tax exemptions on manufacturing equipment.
“Virginia Beach has added another international manufacturer to our expanding global business community,” said Warren D. Harris, Director of Virginia Beach Economic Development. “This company aligns perfectly with our aggressive growth in advanced manufacturing. We are increasingly finding that international companies understand the benefits of locating here with an abundance of highly skilled workers and easy access to international markets through the Ports of Virginia.”
Share
AFP
