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| FOR IMMEDIATE RELEASE |
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| December 18, 2008 |
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| Gordon Hickey |
Suzanne West
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| (804) 225-4260 |
VEDP
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| www.governor.virginia.gov |
(804) 545-5806
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Cindy Rudy
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Nautilus, Inc.
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(276) 773-1218 Ext. 218
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www.nautilus.com
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| GOVERNOR ANNOUNCES 60 JOBS FOR GRAYSON COUNTY |
| - Nautilus, Inc. to invest $1.7 million to expand manufacturing - |
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RICHMOND
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Governor Timothy M. Kaine today announced that fitness company Nautilus, Inc. will invest $1.7 million to expand in Grayson County. The company, which will expand its manufacturing operation to add a cardio exercise equipment line, will create 60 jobs. Virginia successfully competed with Oregon and China for the project.
“Nautilus has been a major employer in Grayson County for 33 years,” Governor Kaine said. “The success of Virginia’s existing businesses is more crucial than ever in these times of economic downturn and I am thrilled to bring good news of jobs and investment.”
Headquartered in Vancouver, Washington, Nautilus, Inc. (NYSE: NLS) is a global fitness products company providing innovative, quality solutions to help people achieve a fit and healthy lifestyle. With a brand portfolio including Nautilus(R), Bowflex(R), Schwinn(R)Fitness, StairMaster(R) and Universal(R), Nautilus manufactures and markets innovative fitness products through global direct, commercial and retail channels. Formed in 1986, the company had 2007 sales of $502 million. It has 1,100 employees and operations in Washington, Oregon, Virginia, Canada, Switzerland, Germany, United Kingdom, Italy, China and other locations around the world.
“Nautilus has had manufacturing operations in Virginia since 1975. We are pleased to be able to partner with the state and local agencies to expand our presence in Grayson County and bring even more jobs to Virginia,” said Tim Joyce, Senior Vice President and General Manager at Nautilus.
The Virginia Economic Development Partnership worked with Grayson County and Virginia’s aCorridor to secure the project for Virginia. Governor Kaine approved $50,000 from the Governor’s Opportunity Fund to assist Grayson County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $100,000 in Tobacco Region Opportunity Funds for the project. The Virginia Department of Business Assistance will provide training assistance through the Virginia Jobs Investment Program.
“In these difficult economic times, it's critical to have a workforce that employers have confidence in, and the employees of Nautilus in Grayson County more than meet the high standards required,” said Mike Maynard, Chairman of the Grayson County Board of Supervisors. “It's their work and commitment that have made this decision possible.”
William Wampler, member of the Virginia Tobacco Commission and Virginia State Senator said, “Of the many investments made by the Tobacco Commission, none are more meaningful than those made in companies like Nautilus which bring jobs and capital to southwestern Virginia communities. The Commission is pleased to make $100,000 available to ensure the success of this valuable corporate citizen."
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