Company to invest $4.6 million, add new manufacturing lines
Date: December 7, 2020
RICHMOND—Governor Ralph Northam today announced that International Automotive Components Group (IAC Group), a global supplier of automotive components and systems, will invest $4.6 million to expand its manufacturing operation in the Town of Strasburg and add new auto component lines and products to its existing capabilities at the facility. Virginia successfully competed with Ohio for the project, which will create 47 new jobs.
“International Automotive Components Group has been a valued employer in Shenandoah County for more than a decade, and we are thrilled that the company is reinvesting in its operation and employees,” said Governor Northam. “IAC Group exemplifies the success that major businesses can find in rural Virginia and we thank the company for its continued confidence in Virginia and for creating high-quality manufacturing jobs at a critical time in our economic recovery.”
Headquartered in Luxembourg, International Automotive Components Group is a leading supplier of automotive components and systems, including instrument panels, console systems, door panels, headliners, and overhead systems to automakers around the world. IAC Group operates more than 45 manufacturing facilities in 16 countries and has more than 60 total locations in 18 countries, including 14 business and innovation centers. The company employs more than 18,000 people globally.
“As a major global player in the automotive sector, IAC Group’s growth in Shenandoah County serves as a testimonial to other industry leaders,” said Secretary of Commerce and Trade Brian Ball. “We are confident the region’s infrastructure and dedicated workforce will contribute to the operation’s future longevity.”
“A seasoned team with a history of successful launches as well as access to additional talent around the region made the Strasburg, Virginia facility the smart choice for IAC,” said Nick Proctor, Director of Manufacturing for IAC Group.
The Virginia Economic Development Partnership (VEDP) worked with Shenandoah County, the Town of Strasburg, and the Shenandoah Valley Partnership to secure the project for Virginia. VEDP will support IAC Group’s job creation through the Virginia Jobs Investment Program (VJIP). VJIP provides consultative services and funding to companies creating new jobs in order to support employee recruitment and 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 citizens.
“Shenandoah County is extremely pleased that IAC has selected Shenandoah County for its expansion,” said Vice Chairman of the Shenandoah County Board of Supervisors Steve Baker. “This facility has been a major employer in the region for many years and is a staple for our local economy. We appreciate the cooperative effort on behalf of the Virginia Economic Development Partnership and the Governor in making this expansion occur.”
“Strasburg couldn’t be more excited about the announcement that one of our mainstay businesses is expanding and investing in our community again,” said Michelle Bixler, Director of Community Development for the Town of Strasburg. “We have been developing good relationships with our partners in Shenandoah County, the Commonwealth, and in the private sector for years, and this exemplifies why. We welcome opportunities to strengthen those networks through workforce and community development and education because it benefits our local businesses and the community as a whole.”
“Thanks to IAC working in partnership with the Commonwealth and Shenandoah County, we have another expanding business providing more job opportunities for our citizens,” said Senator Mark Obenshain. “I commend IAC for its continued economic investment in the Shenandoah Valley.”
“International Automotive Components Group has been a vital factor in driving economic progress locally and has been a leading employer in Shenandoah County,” said Delegate Todd Gilbert. “I am pleased that this investment in expansion and jobs will benefit our shared community, and I appreciate the efforts and collaboration that made this possible.”
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Contacts: Office of the Governor: Alena Yarmosky, Alena.Yarmosky@governor.virginia.gov | Virginia Economic Development Partnership: Suzanne Clark, email@example.com