Circuit board folks at TTM Technologies are going big in Loudoun County, splashing $13.4 million to jazz up their operations. The cool part? They're planning to cook up 43 fresh jobs with this investment. Now, let's break down this tech-tastic news.
So, the big shots from the Board of Supervisors are meeting on Tuesday, crossing their fingers to give the nod to a $150,000 grant. This cash comes from the Commercial Business Incentive Fund, and it's like a high-five from the Department of Economic Development to keep TTM Technologies hanging out in Sterling along Rt. 28.
But wait, there's more! The state government is tossing in an extra $36,750 through the Virginia Jobs Investment Program grant. It's like the whole town's chipping in to make this happen.
Now, get this – they're expecting this $13.4 million magic show to pull in a sweet $250,000 in new tax cash over the next three years. Cha-ching! Founded back in '98, TTM (that's short for 'time to market') is a big deal. They're the brainiacs behind mission systems, radio-frequency gadgets, and super-smart printed circuit boards. And get this – they've got over 200 folks hustling at their Loudoun joint.
Now, here's the scoop on their upgrade plan. They're throwing a chunk of that $13.4 million on new gear and tossing another $1.3 million for a facelift on their plant at Severn Way. Talk about giving your workplace a makeover!
Word is, they were thinking about spreading their wings in places like California, Colorado, Connecticut, North Carolina, Ohio, or Oregon. But guess what? They chose Loudoun County. And why not? It's a place with a buzz for tech and manufacturing. They're not just upgrading; they're consolidating and modernizing all over, even dropping the news about a $130 million manufacturing hotspot in Syracuse, NY.
Governor Glenn Youngkin is all pumped up, saying TTM's expansion is like a high-five for Virginia's tech and manufacturing scene. He's all about reshoring – bringing back the production of tricky printed circuit boards to the state. He's thrilled that TTM picked Virginia, giving a shoutout to the perfect spot, the awesome business vibes, and the skilled gang working hard in the Commonwealth.
Local big shots, the county supervisors, are clapping their hands, calling this investment a game-changer for Loudoun. County Chair Phyllis J. Randall is cheering on the economy diversifying and companies putting their bets on the community. Supervisor Koran Saines is all smiles, talking about job opportunities for the talented bunch in Loudoun and how this pumps up the county's rep as a hotshot in advanced manufacturing.
In a nutshell, TTM Technologies is shaking things up in Loudoun, showing that Virginia's got the mojo for tech and manufacturing. Here's to more jobs, more growth, and more high-fives for Loudoun County