Hagerstown, Maryland: 125 New Jobs

Hagerstown, Maryland: 125 New Jobs

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V-T Industries, Inc., which manufactures laminate countertops, architectural wood doors, and Stone Surfaces, is expanding production to Hagerstown. V-T will invest approximately $11M, of which approximately $6.5M will be in capital improvements.

Initially, the company will create 75 jobs, with the potential to expand within three years generating an additional 50 jobs.

V-T Industries, Inc. will be in position to start-up production by January 2011 with full production expected by the second quarter of 2011.

The Maryland Department of Business and Economic Development (DBED) will provide a $150,000 conditional loan, and has also offered a $10 million private activity bond to assist V-T Industries with the purchase and renovations of their new Hagerstown facility and equipment costs. To complement the State's funding, the Washington County Board of County Commissioners has approved a $112,500 conditional loan for the project. In addition, the project has been approved to participate in the County's "Fast Track Construction Program," which will expedite the review and approval process for any upgrades needed to the facility.

The company has seven production facilities throughout the United States, and sales yield over $300 million. Major customers include Home Depot and Lowes, both of which have a distribution presence in the area. The company is headquartered in Holstein, Iowa.