Mayor William D. Sessoms, Jr. joined Virginia Governor Bob McDonnell today in announcing that PRUFREX Innovative Power Products GmbH, the worldwide leading full-service system partner for digital ignition systems and electronic control systems, will invest $7.33 million to establish its first U.S. manufacturing facility in the City of Virginia Beach. The company will supply ignition components for U.S. customers, including nearby BMZ Batteries and STIHL Inc., which produces the number one selling brand of chain saws. Virginia successfully competed against Georgia for the project, which will create 60 new full-time jobs. The Virginia Beach location will be the U.S. headquarters.
Speaking about today’s announcement, Governor McDonnell said, “Gaining this global company’s first U.S. manufacturing facility is a major coup for Virginia. This significant project is also a great testament to the power of customer-supplier relationships that help attract additional investment. PRUFREX Innovative Power Products GmbH chose Virginia Beach due to the business environment in the Commonwealth and proximity to two major customers that will allow it to expand its U.S. customer base from this strategic location. We are thrilled to welcome PRUFREX to the roster of international companies that call Virginia home.”
“We are excited to welcome PRUFREX, a key global player in the field of highly advanced technologies, to our City,” said Virginia Beach Mayor William D. Sessoms. “The company’s innovations in the development and production of electronic ignition components result in easier operation by the end user, long-term cost savings and significant positive impacts to the sustainability of our environment. Virginia Beach is proud to be the new U.S. corporate home for this great German company.”
PRUFREX Innovative Power Products GmbH is a privately owned manufacturer of digital ignitions systems and electronic control systems, headquartered in Cadolzburg, Germany. PRUFREX develops and produces control units for applications in the fields of small engine, marine and recreation, industry, automotive, and electric and cordless power appliances.
“Our ongoing conversations with manufacturers reveal that there is a great interest in our products, especially because of the exhaust reduction and fuel-saving aspects we can offer our customers,” explains Kurt Müller, president. “I am confident that we are in a good position to facilitate growth in the U.S. market. The decision for the right production facility location was not an easy one. Crucial factors that made us choose Virginia Beach are the excellent engineering graduate programs in the state, the close business relations to our present and future customers and suppliers as well as the logistics connections into the country.”
The Virginia Beach Department of Economic Development worked with the Virginia Economic Development Partnership to secure the project for Virginia. Governor McDonnell approved a $120,000 grant from the Governor’s Opportunity Fund, and the Virginia Department of Business Assistance will provide funding and services through its Virginia Jobs Investment Program to support the company’s recruitment and training activities. The Virginia Beach Development Authority has approved a $120,000 grant from the Economic Development Investment Program for the project. The Hampton Roads Economic Development Alliance provided research support for the project.
PRUFREX will lease an existing building in Oceana West Corporate and join such major German companies as STIHL Inc., IMS Gear, Kettler, Busch Manufacturing, Hermes Abrasives, KOSTER American, BMZ USA, and Atlas North America in the Lynnhaven Business Corridor.
The mission of the Virginia Beach Department of Economic Development is to attract and retain national and international business and industry that results in the creation of new capital investment and jobs that increase the per capita income in the community. The City of Virginia Beach is the most populous city in the Commonwealth of Virginia with a population of 437,000 and is the 39th largest city in the United States. The City has been recognized as the best run city in America, by 24/7 Wall St. in 2012. In 2013, the City was named the easiest city to start a business in the U.S. by Thumbtack.com in partnership with the Ewing Marion Kauffman Foundation and top overall mid-sized city in the U.S. by fDi Magazine. In 2012, the Department of Economic Development received re-accreditation through the International Economic Development Council, one of only 29 economic development organizations in the world to have this recognition. For more information, visit www.yesvirginiabeach.com.