FOR IMMEDIATE RELEASE
Date: May 29, 2018
RICHMOND—Governor Ralph Northam today announced that Provides US, Inc., a manufacturer of heat exchangers, will invest $897,000 to expand its operation in Augusta County. The company has secured 50,000 square feet of additional production space and will install new equipment to meet increased demand. The project will create 20 new jobs.
“Provides US opened its first American manufacturing facility in Augusta County a few years ago and this decision to expand its workforce by nearly 50 percent is a strong testament to the business climate and skilled talent pipeline in the Shenandoah Valley,” said Governor Northam. “The region offers strategic access to major interstates and competitive operating and energy costs, providing an ideal home for thriving manufacturers like Provides US. We look forward to continuing our corporate partnership in this global company’s next phase of growth.”
Headquartered in Latina, Italy, Provides was established in 1968 and originally specialized in the production of metal office furniture. In 1991, the company began working in the air conditioning sector and in 1996, it designed and manufactured the first series of heat exchangers. Since then, Provides has become a global leader in the heat exchanger sector. In 2004, Provides opened a second facility in China, and in 2014, Provides US was incorporated in the United States.
“Augusta County boasts an impressive cluster of manufacturers because businesses recognize the many assets that the Shenandoah Valley has to offer,” said Secretary of Commerce and Trade Brian Ball. “The region has built a robust workforce that attracts and retains global companies like Provides US, and we are proud to have this industry leader on Virginia’s corporate roster.”
“Provides selected Verona, Virginia for its U.S. manufacturing site for the following reasons: the proximity to our customer base on the East Coast of the U.S.; the centralized location and access to the interstate highway system for transport of finished units throughout North America; relatively lower-cost utilities; lower cost-of-living; and highly skilled and motivated workers,” said Franco Provenziani, CEO, Provides Metalmeccanica, and Tom Coplai, Chief Operating Officer, Provides US.
The Virginia Economic Development Partnership will support Provides US, Inc.’s job creation through its Virginia Jobs Investment Program (VJIP). VJIP provides consultative services and funding to companies creating new jobs or experiencing a technological change to support employee training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for its citizens. Augusta County will match the VJIP funding awarded to the company to support the expansion project.
“Augusta County is proud Provides US is expanding in its Verona location, and we feel fortunate to have a global company adding diversity to our strong manufacturing sector,” said Gerald Garber, Chair of the Augusta County Board of Supervisors. “We have a longstanding commitment to providing quality jobs for our community and the greater region, and Provides US is a remarkable partner in our efforts.”
Terry Kelley, Member of the Augusta County Board of Supervisors and representative of the Beverley Manor District where Provides US is located added, “Provides US is an innovative company making a positive impact on our business climate. While fairly new to Augusta County, the company offers great opportunities for our citizens and for our economy.”
“Small to medium-sized manufacturing businesses have long been a key part of our diverse economy here in the Valley because they provide opportunities for an adequate living wage, variable schedules, skill-sets, and additional growth opportunities,” said Senator Emmett Hanger. “Provides has already demonstrated it is a great community business, and I am pleased they are expanding and offering additional opportunities for employment, which furthers their commitment to our area and enhances their long-term sustainability.”
“Congratulations to Provides US on the expansion of its Verona facility and the creation of 20 new jobs,” said Delegate R. Steven Landes. “This project is a great example of public-private partnerships in action, fostering economic development, and job growth. I am proud to see an industry leader such as Provide US flourish here in the Shenandoah Valley, and I wish them continued success.”
Office of the Governor
Contact: Ofirah Yheskel
Virginia Economic Development Partnership
Contact: Suzanne Clark
Phone: (804) 545-5806
Provides US, Inc.
Contact: Thomas L. (Tom) Coplai
Phone: (540) 416-0297