RICHMOND, VA — In a strategic move to bolster Virginia’s business landscape, Governor Abigail Spanberger has unveiled three significant investments aimed at fortifying the state’s reputation as a prime destination for business expansion and entrepreneurship.
Collectively, Fukoku Korea, Interstate Group, and Richmond National Group are injecting nearly $30 million into the state’s economy, a move projected to generate over 180 jobs in the areas of Henry, Giles, and Henrico.
Fukoku Korea, a South Korean manufacturer of automotive parts, is setting up a new $18.9 million facility in Henry County’s Patriot Centre Industrial Park, which is anticipated to result in 60 new jobs. The plant will focus on producing rubber damper pulleys for engines and thermal gap fillers for EV batteries.
In Giles County, Interstate Group is investing $8.9 million to expand its trailer manufacturing operations, adding 46 jobs. The expansion will enhance the availability of their products on the East Coast.
Meanwhile, Richmond National Group is investing $1.75 million in Henrico County, creating 75 jobs. This expansion underscores the strength of the financial services and insurance industry in the region.
These developments follow last month’s announcement of Avio USA Inc.’s $500 million investment in Pittsylvania County, marking it as the second-largest economic development deal in Southern Virginia’s history.
Original Story at www.governor.virginia.gov