Dominion Packaging has announced the construction of a new manufacturing facility in Henrico county with an investment of around $45m.
The company, which produces packaging solutions for customers in the tobacco, quick service restaurant and consumer markets, is also planning to move its headquarters to Henrico.
Governor Bob McDonnell said the investment will allow Dominion Packaging to increase its manufacturing capacity and upgrade equipment to the latest technologies.
"The company continues to grow, and this expansion will allow Dominion to maintain a competitive position in its selected markets, and ensure long-term viability in the Commonwealth for years to come," McDonnell added.
Dominion will also receive a major business facility job tax credit. 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.
Dominion Packaging president – CEO Brett Hawkins said the Port of Richmond is situated a few miles south of the plant, which will allow the company to import raw materials from all over the world.
"Our partnership with the Henrico County Economic Development Authority and the Virginia Department of Business Assistance will enable Dominion to reach our business plans for the new plant but also assure future growth to support our local economy," Hawkins added.
The project is expected to create 113 new jobs in the region.