Altec Industries will invest $1.4 million to expand the production of Altec’s construction equipment product line in Botetourt County, Virginia, creating 150 new jobs and additional investment in the existing facility, Governor Glenn Youngkin announced May 23.
“Altec Industries has a well-established reputation as an outstanding corporate steward in Botetourt County, and this expansion bolsters the company's commitment to the region and to Virginia,” said Youngkin. “Creating 150 new jobs and reinvesting in the region sends a clear message to manufacturers that the Commonwealth is the right place to locate and grow, and we look forward to a continued partnership with Altec.”
The company established its Botetourt County facility in 2001 at the Botetourt Center at Greenfield. Altec Inc. produces aerial devices, digger derricks, and boom truck cranes, as well as many other truck body tools used by a broad spectrum of industrial customers. Altec provides products and services in more than 100 countries throughout the world.
“Congratulations to Altec for continuing the production of high-quality products that garner international recognition,” said Delegate Terry L. Austin. “The company’s facility in the Botetourt Center at Greenfield has been an economic driver, and with this investment, it is now one of the largest employers in the region. We are grateful for Altec’s continued commitment to advanced manufacturing and are proud of the men and women who build these world-class products here in Botetourt.”
The Virginia Economic Development Partnership worked with Botetourt County and the Roanoke Regional Partnership to secure the project for Virginia and will support Altec’s job creation through the Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for citizens.