Advanced surface coatings manufacturer Hardide Coatings, Inc. has selected Martinsville-Henry County, VA as the location for a new facility in the United States.
Hardide Coatings will invest $7.25 million into the project and plans to create 29 new jobs. These will be jobs with an average annual salary of $50,000.
The company, which is headquartered in Bicester, Oxfordshire, U.K., is a leading provider of advanced tungsten carbide-based coatings for metal parts.
Hardide’s innovative technology that significantly increases the lifespan of coated components is based on university research done by scientists at Moscow State University in Russia, and the company has customers all over the world in the aerospace, automotive, oil and gas, defense and other sectors.
In a release announcing the project, Governor Terry McAuliffe said he is thrilled to announce these new jobs, which pay well above the average prevailing wage for the region. The Governor met with Hardide company officials in person in the U.K. to discuss this project during the Farnborough International Airshow last year.
Hardide Coatings CEO Philip Kirkham said in the release that they chose Martinsville-Henry County after a long and detailed evaluation of numerous locations in different states, adding that they believe the county made a compelling economic and business case.
Sites in Texas and Oklahoma were also in contention for this project. The Virginia Economic Development Partnership worked with a range of local, regional and state partners to secure this project.
Partners involved in the project include the Martinsville-Henry County Economic Development Corporation, Commonwealth Center for Advanced Manufacturing (CCAM), and the Mid-Atlantic Broadband Communities Corporation.
The Hardide Coatings project is getting a package of incentives that includes $170,000 from the Virginia Tobacco Commission and another $150,000 from the Governor’s Opportunity Fund meant to assist Henry County with the project.
The company is also eligible to receive additional incentives under the Virginia Enterprise Zone Program, plus sales and use tax exemptions on manufacturing equipment, and workforce training support and funding through the Virginia Jobs Investment Program.
CCAM President and Executive Director Joseph Moody said they worked for two years with the Commonwealth to secure this investment, and added that they are excited that Hardide selected Virginia over other locations. Moody also said they are looking forward to working with the company for exploring potential collaborative surface coating research and development projects at CCAM.
CCAM is a collaborative applied research center that bridges the gap between fundamental university research and the product development work routinely done by companies. It is the only such collaboration of its kind in North America, and aims to accelerate commercialization of research projects by pooling the resources of member companies and sharing results.
Mid-Atlantic Broadband Communities Corporation President and CEO Tad Deriso said they’re delighted that their open-access fiber optic network played an important role in this announcement. Deriso added that Hardide will be able to connect their new location in Martinsville-Henry County to their network provider in the U.K.