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DEFENSE COMPANY SELECTS ORANGE COUNTY FOR $6.9 MILLION INVESTMENT
-Governor Warner announces Aerojet to locate manufacturing operation in Virginia-
RICHMOND - Governor Mark R. Warner today announced that Aerojet, a GenCorp Inc. company, will locate a manufacturing facility in Orange County. Through a $6.9-million investment, the project will create 149 new jobs. Aerojet recently purchased the propulsion business assets of Atlantic Research Corporation (ARC), including a 3,200-acre testing and technology operation in Orange County that currently employs 25 people. Aerojet plans to construct additional facilities at this site to perform research and development activities, test product performance and manufacture propulsion systems. Virginia successfully competed with other Aerojet facilities in Arkansas, California and New Mexico for the project.
“I am pleased to welcome Aerojet to the Commonwealth,” said Governor Warner. “My administration is working hard to bring new and diverse employment opportunities to all regions of Virginia. Areojet’s decision to locate 149 new, high-paying defense jobs in Orange County is great news.”
Aerojet, a GenCorp Inc. (NYSE: GY) company, is a world-recognized aerospace and defense leader principally serving the missile and space propulsion, and defense and armaments markets. GenCorp is a technology-based manufacturer with leading positions in automotive, aerospace and defense, and pharmaceutical fine chemical industries. Other GenCorp companies include Aerojet Fine Chemicals and GDX Automotive. For more information, visit www.aerojet.com and www.gencorp.com.
“The business-friendly community coupled with a well-educated, capable workforce were key factors in the selection of Orange County for the planned facility expansion,” said Rob Shenton, Vice President of Operations for Aerojet.
The Virginia Economic Development Partnership worked with Aerojet over several months, preparing the state’s proposal and negotiating an incentive package to secure the project for Virginia. Orange County ultimately closed the deal. Governor Warner approved a $150,000 grant from the Governor’s Opportunity Fund to assist Orange County with the project. Aerojet will take advantage of the Virginia Department of Business Assistance’s Workforce Services Program.
“Orange County is very pleased that Aerojet has purchased the former Atlantic Research Corporation facility and will be expanding its operation and increasing the employment base,” said Grover Wilson, Chairman of the Orange County Board of Supervisors. “The creation of 149 new jobs and the $6.9 million additional investment will be a boost to our local economy. I extend a warm welcome to Aerojet on behalf of the Board and citizens of Orange County.”