Virginia May Provide Subsidies for Business Expansion and Relocation

Ralph Northam
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
by Tyler Arnold

 

A business that is expanding jobs in Henrico County and another business that is relocating to Pulaski County are eligible to receive state incentives, Gov. Ralph Northam’s office announced Thursday.

SimpliSafe, a self-installed home security system provider in Henrico, is adding a second operation, which will add 250 jobs. The company is investing more than $3 million to create a 24-hour customer security monitoring service. The business opened in 2020 and employs more than 570 people in Henrico.

Virginia competed with Washington to get SimpliSafe to choose the commonwealth for its expansion. The state will provide services to the company through the Jobs Investment Program, which uses state funds to support recruitment and training. The company will also be eligible for the Major Business Facility Job Tax Credit for new full-time jobs, which would grant them tax subsidies.

“SimpliSafe’s decision to establish a second Henrico County facility in just two years further solidifies why Virginia is the best place to do business,” Northam said in a statement “The Richmond region has the business climate, talent pipeline, and infrastructure to support the rapid growth of SimpliSafe. We are proud to help SimpliSafe continue to protect millions of individuals across the country from its operations here in the Commonwealth.”

Xaloy, a company that manufactures plastic processing components for injection and extrusion machinery, will also be eligible for state incentives after it announced it will relocate a manufacturing operation to Pulaski County from its current location in Ohio. The manufacturing operation was previously based in Pulaski.

“One of Virginia’s greatest business assets is our exceptional workforce, and we are proud to support Xaloy’s return to Pulaski County,” Secretary of Commerce and Trade Brian Ball said in a statement. “The company’s investment will strengthen the Commonwealth’s position as a leader in advanced manufacturing, and we are committed to facilitating Xaloy’s success here any way we can.”

The company is investing $1.75 million to produce bimetallic barrels for various applications in the plastic manufacturing industry. The commonwealth competed with Ohio for the project, which will host 35 new jobs.

Xolay is eligible for state benefits through the Virginia Enterprise Zone Program and local incentives from Pulaski County and the Town of Pulaski.

– – –

Tyler Arnold reports on Virginia and West Virginia for The Center Square. He previously worked for the Cause of Action Institute and has been published in Business Insider, USA TODAY College, National Review Online and the Washington Free Beacon.
Photo “Ralph Northam” by Governor of Virginia

 

 

 

Related posts

Comments