The Virginia Economic Development Partnership announced that Virginia Panel Corporation (VPC), a manufacturer of interconnect solutions products, is investing $11 million to relocate and expand its current machine shop and implement an enterprise manufacturing system using digital technology in the City of Waynesboro. The company will retrain its current 160 employees to utilize the new system and machine shop equipment.
“VPC is very appreciative of the financial support as we expand using technology to manufacture technology,” said Virginia Panel Corporation President Sandy Stowers.
“We appreciate Virginia Panel’s longstanding commitment to Waynesboro,” said Greg Hitchin, Waynesboro Director of Economic Development & Tourism. “We are delighted to be able to assist them with their expansion and the advanced training their employees will receive using the Virginia Jobs Investment Program grant.”
Virginia Panel Corporation (VPC), founded in 1959, designs, manufactures and markets interconnect solution products for industries including automotive, aerospace, new space, defense, medical, telecommunication, and more. VPC is equipped with the latest technology for manufacturing all components of an interface connection system from basic to complex applications.
The Virginia Economic Development Partnership worked with the City of Waynesboro to secure the project for Virginia and will support VPC’s retraining efforts through the Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to companies creating new jobs or upskilling their existing workforce 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.