Business News Detail
Altec Solidifies Expansion Plans at Greenfield
Fincastle, VA – The Botetourt County Board of Supervisors recently approved an option and performance agreement for a planned expansion of Altec Industries at its Botetourt Center at Greenfield facility. The option agreement allows Altec to purchase an adjacent 30.18 acre parcel and outlines the details and benchmarks for its planned expansion.
“We are pleased that Altec continues to make investments in their plant here in Botetourt. We are proud to be partners with them as they continue to grow and prosper,” said Dr. Mac Scothorn, Chairman of the Botetourt County Board of Supervisors.
The anticipated investment includes approximately $1.0 million for building and facilities expansions that are currently under construction and are anticipated to be completed by the end of 2014. The expansion also includes an investment of $2.0 million in machinery and tools over the next two years and the creation of at least 100 full time jobs by December 2016.
"We have been very fortunate to experience steady growth over the years we have enjoyed a presence in Botetourt County. Altec is particularly appreciative of the continued support over these years provided by the county government. Most importantly, we are thankful for the talented workforce within the region that we have been able to recruit. We look forward to remaining a stable and positive presence within the community for many years to come," said Jeff Emry, Altec’s Regional VP of Operations.
Altec has operated at Greenfield since 2001 and has undergone a number of expansions since that time. The company continues to be one of the largest employers in the County and gives back to the community through both United Way and partnering initiatives with the County, notably at the Botetourt Sports Complex.
“Altec has been a great corporate citizen in Botetourt County,” said Kathleen D. Guzi, County Administrator. “This agreement and the anticipated expansion will help strengthen Altec’s position and future in the County.”
For more information, contact
Kathleen Guzi, County Administrator