FOR IMMEDIATE RELEASE
June 11, 2002

Ellen Qualls
www.governor.state.va.us
(804) 786-2211, x2379


Garry Moore, PHR
Kentucky Derby Hosiery
(336) 783-4247
Jill Lawrence
VEDP
(804) 371-0049
Kentucky Derby Hosiery Expands Operations In Carroll County
-Governor Warner announces 72 new jobs, multi-million dollar investment-


RICHMOND - Governor Mark R. Warner today announced that Kentucky Derby Hosiery will expand its high-tech sock knitting operations in Carroll County. The company plans to employ 72 new workers at its current 56,000-square-foot facility in the Carroll County Industrial Park. Virginia competed with North Carolina and Kentucky for the multi-million dollar project.

“This expansion is great news for Carroll County,” said Governor Warner. “My administration is committed to economic revitalization in southwest Virginia. Kentucky Derby Hosiery will benefit from the region’s dedicated workforce and business-friendly climate.”

Kentucky Derby Hosiery purchased one of the first shell buildings in the Carroll County Industrial Park in 1994. It has operated in that building continuously and currently has 242 employees in Carroll County. The company plans to make modifications to the existing facility in order to accommodate the expansion. Kentucky Derby also has a finishing and printing operation in Wytheville, Virginia. The firm is headquartered in Hopkinsville, Kentucky, and has extensive operations in North Carolina.

“Our decision to expand in Hillsville was primarily due to the positive business climate from the Commonwealth of Virginia and Carroll County, as well as the availability of facilities, low energy costs, and the close proximity to our other operations,” said Steve Belton, Executive Vice President of Operations for Kentucky Derby Hosiery.

Governor Warner approved a $100,000 grant from the Governor’s Opportunity Fund to assist Carroll County with the project. Kentucky Derby Hosiery is also eligible to receive further tax credits because it is locating in an enterprise zone. The Virginia Economic Development Partnership, the Mt. Rogers Partnership and Carroll County assisted Kentucky Derby Hosiery with its decision. The Virginia Department of Business Assistance will provide workforce training services.

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