RICHMOND, VA - Gov. Bob McDonnell announced that Wood Fuel Developers, LLC, an affiliate of Chester, VA-based Industrial TurnAround Corp. (ITAC), will invest $8.6 million to begin wood pellet manufacturing operations in Sussex Co. The project will create 28 jobs. Virginia successfully competed with Georgia for the project.
Speaking about today’s announcement, Gov. McDonnell said, “Just one year ago Wood Fuel Developers announced plans for the start-up of the company in Greensville County. Now they are opening a second operation in Sussex County. Virginia’s dependence on imported energy is reduced by corporate partners that manufacture renewable resources here at home. Wood Fuel Developers provides a needed service and will continue to strengthen the Commonwealth's wood products industry.”
“Sussex County offered an existing facility that suited Wood Fuel Developers’ needs for its newest Virginia operation,” said Jim Cheng, Virginia Secretary of Commerce and Trade. “The company will offer 28 valuable employment opportunities to help the region continue its economic rebound.”
Wood Fuel Developers, LLC is a renewable fuels company that specializes in developing and operating wood fuel and pellet production plants to serve the residential, industrial and power generation markets. Its parent company, ITAC, has been in business for more than 22 years providing engineering, design, and construction management services in the industrial and manufacturing-related markets.
“The Sussex County Project offered a unique opportunity that enabled us to expedite our business and marketing objectives by acquiring an existing facility including site infrastructure, buildings, machinery and the purchase and installation of new equipment,” said Steve Gordon, president and CEO of Wood Fuel Developers.
The Virginia Economic Development Partnership worked with Sussex County and Virginia’s Gateway Region to secure the project for Virginia. Governor McDonnell approved a $75,000 grant from the Governor’s Opportunity Fund to assist Sussex County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $110,000 in Tobacco Region Opportunity Funds for the project. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance (VDBA) will provide funding and services to support the company’s recruitment and training activities.
“Sussex County is pleased with Wood Fuel Developers’ decision to invest in the County and we look forward to assisting the company with this project,” said The Honorable Harris L. Parker, chairman of the Board of Supervisors. “Wood Fuel Developers’ decision to locate in the Town of Waverly within Sussex County strengthens the Board of Supervisors’ commitment to economic development and job creation for our citizens. This investment will diversify the County’s tax base as well as provide much needed employment opportunities for our citizens."
“On behalf of the Virginia Tobacco Commission we congratulate Sussex County on a great win,” said Senator Frank Ruff, member, Virginia Tobacco Indemnification and Community Revitalization Commission. “We are pleased that the Tobacco Commission could offer assistance to ensure that Wood Fuel Developers will stay and thrive in Virginia.”
Source: Office of the Governor, Commonwealth of VA
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