Port of Virginia Grants Businesses Over $2 Million - Global Trade Magazine
  August 23rd, 2017 | Written by

Port of Virginia Grants Businesses Over $2 Million

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  • Seven companies benefiting this year from Port of Virginia's Economic and Infrastructure Program.
  • Port of Virginia program designed to encourage investment and job creation among port users.
  • In fiscal year 2017, seven recipient companies of Port of Virginia grants created a combined 1,132 jobs.

Seven companies located throughout Virginia are recipients of grant money from The Port of Virginia Economic and Infrastructure Development Grant Program. The program is designed to encourage investment, reinvestment and job creation among companies in Virginia that are port users.

In fiscal year 2017, the seven recipient companies combined to create 1,132 jobs with Winchester-based Rubbermaid Commercial Products having added 224 new positions. Port representatives presented a check for $500,000 – the maximum grant allowed – to officials from Rubbermaid’s leadership team.

“The Rubbermaid Commercial Products facility is strategically located in Winchester where, for years, it has been moving its products through the Virginia Inland Port,” said John F. Reinhart, CEO and executive director of the Virginia Port Authority. “The company’s success is evident and the reinvestment has led to job growth and benefits to the Commonwealth. This grant, we hope, will encourage continued growth for this valued port user.”

“Rubbermaid Commercial Products will continue investing in our hard working and dedicated employees who have distributed and produced high quality products from our facility right here in Virginia since 1968,” said Paul Bryant, senior manager of operational excellence for Rubbermaid

Commercial Products.

The other recipients of this year’s Economic and Infrastructure Development Grant Program include Continental Automotive Systems of Newport News $417,000; Friant & Associates, of Suffolk, which received $315,000; Haulotte U.S. Inc., Virginia Beach, which received $35,000; Hubbell Lighting, Inc., Christiansburg, which received $315,000; Target Corp., Suffolk, which received $500,000; and Wolverine Advanced Materials. Blacksburg, which received $91,500.

The Port of Virginia Economic and Infrastructure Development Grant Program is designed to incentivize certain qualified companies to build new, or reinvest in existing, maritime-related employment centers in order to encourage and facilitate the growth of the port. Subject to appropriation, the grant is available until June 30, 2020. The maximum amount of grant allowable per qualified company is $500,000 and the maximum amount of grants allowable among all qualified companies in any given fiscal year is $5 million. In fiscal year 2017 (July 1, 2016 – June 30, 2017), the combined total of the grant program was $2.17 million.

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