RICHLANDS, Va. â€” Gov. Terry McAuliffe announced Wednesday that Tadano Mantis Corporation, a customized crane manufacturer, will invest $2.5 million to expand its manufacturing operation in the town of Richlands in Tazewell County.
McAuliffe said Virginia successfully competed against Tennessee for the project, which will create 25 new jobs.
Commonwealth Secretary of Commerce and Trade Maurice Jones traveled to Tazewell County Wednesday to make the announcement on behalf of the McAuliffe administration.
â€œTadano Mantis is an important employer in Tazewell County, and the creation of new jobs in a region that is working very hard to transform itself economically is great news,â€ Jones said. â€œWe are grateful to the company for its continued investment in the Commonwealth and to the officials in Tazewell County and the region for their work on this project.â€
Tadano Mantis Corporation, with U.S. headquarters in Franklin, Tennessee, develops and produces hydraulic telescopic-boom crawler cranes primarily for use in power transmission line erection, highway and bridge construction, railroads, and oil and energy pipelines. The company is owned by Tadano Ltd. in Japan. Tadano Ltd. (TSE: 6395) and has reported sales of $1.814 billion and employs over 3,000 worldwide.
â€œWe are very excited about our Richlands plant expansion,â€ Tadano Mantis Corporation Chief Operating Officer Shiro Morita said. â€œWe can hire more workers from local communities. We can have more suppliers and vendors locally, too. We are looking forward to seeing the completion of this expansion as soon as possible.â€
The Virginia Economic Development Partnership worked with Tazewell County, the Tazewell County Industrial Development Authority, and the Virginia Coalfield Economic Development Authority to secure the project for the Commonwealth.
McAuliffe approved a $100,000 grant from the Governorâ€™s Opportunity Fund to assist Tazewell County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission also approved $140,000 in Tobacco Region Opportunity Funds. The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Additional funding and services to support the companyâ€™s employee training activities will be provided through the Virginia Jobs Investment Program.