Canada Metal (Pacific) Ltd., headquartered in Vancouver, British Columbia, Canada, has announced plans to open a facility in Virginia Beach. It will be the company’s first manufacturing plant in the United States. In addition to the Vancouver facility, the company also has a manufacturing plant in Ningbo, China.
The company manufactures and markets marine and industrial products and is the world’s largest producer of diecast marine anodes, some of which are used for offshore oil pipelines. The company also manufactures and markets the Octopus line of marine autopilot drive systems.
Canada Metal (Pacific) Ltd. looked at several locations in the Hampton Roads region before making its decision to locate at 2572 Horse Pasture Road in Virginia Beach. The company will lease 14,300 square feet of manufacturing space with the potential to expand up to 39,000 square feet.
“Virginia Beach has added another international manufacturer to our expanding global business community,” said Warren D. Harris, director of Economic Development. “This company aligns perfectly with our aggressive growth in advanced manufacturing. We are increasingly finding that international companies understand the benefits of locating here with an abundance of highly skilled workers and easy access to international markets through the Ports of Virginia.”
“CMP conducted a very comprehensive investigation as to where to establish their U.S. operation,” said Vice President of Business Development Jim Stuart. “Virginia Beach came out head and shoulders above all other locations due to its highly skilled labor force, excellent logistics and most importantly having a culture that personifies our desire to be fully integrated within the community in which we conduct our business.”
Virginia Beach was recently named the Top 7 Big City Leading the U.S. Manufacturing Revival by Forbes.
The company will create 70 new jobs over the next 36 months with average annual salaries of $36,000 excluding benefits. Additionally, Capital Metal (Pacific) Ltd. plans to invest more than $3 million in capital improvements.
The Virginia Beach Economic Development Authority has awarded the company an Economic Development Investment Program grant in the amount of $110,000 based on the number of jobs created and the capital investment.
The mission of the Virginia Beach Department of Economic Development is to attract and retain national and international businesses to stimulate capital investment and create jobs. Virginia Beach is the most populous city in Virginia with a population of 440,000, and it is the 37th largest in the United States. It is recognized as one of the Best Run Cities in America by 24/7 Wall St. The Department of Economic Development received re-accreditation through the International Economic Development Council in 2012 and is one of only 29 economic development organizations in the world to have this recognition. It is listed among the Top Five Overall Mid-sized American Cities of the Future, Top 10 for Economic Potential and Top Five for Infrastructure by fDi Magazine. CNNMoney.com ranked Virginia Beach as the Easiest Place to Start a Business and the 2nd Most Business-Friendly City in the country. For more information, visit www.yesvirginiabeach.com.
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