HAMPTON ROADS, Va. - A manufacturer of railway construction and maintenance equipment will invest $52.6 million to expand in Chesapeake, creating 98 new jobs.
The company, Plasser American Corporation, will add a 45,000-square-foot, three-story office building and a new 82,000-square-foot manufacturing facility to increase production capacity.
The investment plan also involves the renovation of existing infrastructure and the addition of manufacturing equipment, including an updated industrial paint booth. Plasser American will acquire three adjoining properties to accommodate the expansion.
“Plasser American has been a valued employer and corporate partner to Virginia and the City of Chesapeake since the opening of its manufacturing facility 50 years ago,” said Governor Northam. “Companies like Plasser with deep ties in our Commonwealth understand the competitive advantages of the region’s infrastructure, access to The Port of Virginia, and world-class workforce. Growing Virginia’s substantial manufacturing industry is key to rebuilding from this public health crisis, and we thank Plasser American for playing an important role in our ongoing recovery efforts.”
Based in the City of Chesapeake since 1970, Plasser American Corporation is a railway track maintenance equipment manufacturer that has adapted its products to the North American railroad and transit system. The company also provides railway inspections and railway repair vehicle services. After experiencing exponential growth over the last few years, Plasser American currently has more than 300 employees at its Chesapeake operation. The company also has a first-of-its-kind apprenticeship program that enables apprentices to gain hands-on experience while studying at Tidewater Community College.
The Virginia Economic Development Partnership worked with the City of Chesapeake Economic Development Authority and The Port of Virginia to secure the project for Virginia. Governor Northam approved a $450,000 grant from the Commonwealth’s Opportunity Fund to assist Chesapeake with the project.
The company is eligible to receive benefits from the Port of Virginia Economic and Infrastructure Development Grant Program, as well as the Railroad Industrial Access Program, which is administered by the Department of Rail and Public Transportation and subject to approval by the Commonwealth Transportation Board.
Funding and services to support Plasser American’s employee training activities will be provided through the Virginia Jobs Investment Program.