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COMMUNITY ACCOLADES
Moog Inc. expanded its presence in Montgomery County in 2021, adding a facility in Falling Branch Corporate Park in Christiansburg.
EXISTING INDUSTRY & WORKFORCE
BUSINESS RETENTION & EXPANSION PROGRAM
The Economic Development Department uses its Business Retention & Expansion (BRE) program to maintain good relationships and communication with companies in Montgomery County. Department staff arrange BRE visits with local businesses to identify and help solve any problems or barriers that may be undermining their overall success and growth in our community.
In 2021, the Department visited either in-person or virtually with 51 separate companies. Many of those companies also required follow up information or services, resulting in 13 additional visits and an overall total of 64 visits for the year. Four companies supported through the program announced or completed expansion or relocation projects that will result in $28.28 million in total new private investment and 195 new jobs.
MOOG EXPANDS INTO CHRISTIANSBURG
In February 2021, Moog Inc., announced an expansion of its Montgomery County operations, investing $10.7 million to transfer jobs and equipment from an existing facility in Blacksburg to a larger building in the Falling Branch Corporate Park in Christiansburg.
The roughly 102,000 square foot building was previously home to DISH Network, LLC, and the additional space will allow for the creation of 75 new jobs for Moog, as well as support increased demand for the company’s slip ring products.
“Moog is excited to be expanding in Virginia and Montgomery County, in particular,” said Janet ByrneSafier, Vice President of Moog’s Power and Data Sector, in a press release announcing the expansion. “As we look to support our growing business in established and new markets, the focus has been on developing geographic centers of excellence with ready access to a diverse talent pool. Moog places emphasis on retaining and developing its current workforce and new employees.”
ACQUISITIONS AND ANNOUNCEMENTS
From acquisitions to expansions into new markets, Montgomery County companies made headlines a number of times in 2021, including: • Qualtrax, Inc. (Blacksburg) was acquired by U.K. firm Ideagen, PLC, with plans for Qualtrax’s Blacksburg office to become Ideagen’s U.S. headquarters. • 1901 Group (Blacksburg), headquartered in Reston, VA was acquired by Fortune 500 company Leidos for roughly $215 million. • Peraton (Blacksburg), headquartered in Herndon, VA acquired federal contractor Perspecta, Inc., for $7.1 billion. Peraton also acquired Northop Gruman Corp’s federal IT and mission support services divisions for $3.4 billion. • Hubbell Lighting, Inc. (Christiansburg) was acquired by GE Current in a $350 million deal encompassing almost all Hubbell, Inc., commercial and industrial lighting businesses. • Landos Biopharma, Inc. (Blacksburg) took the company public in 2021 with plans to put the additional funding into developing new treatments for autoimmune diseases. • FoxGuard Solutions (Christiansburg) parent company, Framatome, announced the launch of FoxGuard EU in September 2021, leveraging FoxGuard’s cybersecurity expertise for the European market.
THREE MONTGOMERY COUNTY COMPANIES SELECTED FOR VALET PROGRAM
In 2021, the Virginia Economic Development Partnership (VEDP) announced that three Montgomery County companies were accepted into the Virginia Leaders in Export Trade (VALET) program, an honor extended to only 25 companies each year. The two-year program assists Virginia companies that are dedicated to growing their sales through international exports, connecting participants with a team of experienced international private sector partners. Graduates of the program see an average increase of about 59 percent in their international sales.
Joining the VALET program this year was Moog, Inc. (Blacksburg-Christiansburg), accepted in early January, as well as MELD Manufacturing Corporation (Christiansburg) and ESS Technologies, Inc. (Blacksburg), both announced in July. They join a growing list of Montgomery County companies to participate in VALET recently, including FoxGuard Solutions, Inc., Prime Photonics, LC, and Aeroprobe Corporation.
VTCRC’S COGRO LABS BRINGS ABOUT JOHNSON & JOHNSON PARTNERSHIP
This year, Montgomery County and many other key regional stakeholders supported a GO Virginia application by the Virginia Tech Corporate Research Center (VTCRC) to create a shared biotech lab space. The $1.1 million project was awarded $599,000 in GO Virginia funding and will include the development of lab space in the VTCRC, as well as site design work for a second facility in Roanoke.
The lab space in Blacksburg will mirror the successful COgro shared office space in the VTCRC, which allows small companies to flexibly lease desk space. COgro LABS will feature both wet and dry lab space and equipment for lease by up to 25 companies, and is expected to open in the KnowledgeWorks building in 2022.
The project has also brought about a new partnership between the VTCRC and Johnson & Johnson, creating greater opportunities for biotech advancement in our region. Through Johnson & Johnson’s JLABS, up to five local biotech companies will be selected to participate in a virtual residency program that will connect them with expert mentorship, as well as crucial materials and business networking opportunities.
Image Credit: Roanoke Times
