Virginia Gov. Ralph Northam announced that Tempur Sealy International, Inc. (NYSE: TPX) will invest $16.7 million to expand its manufacturing operation in Scott County. The company will increase production to meet growing demand for its proprietary foam mattress and pillow products. Virginia successfully competed with New Mexico for the project, which will create 25 new jobs.
“Southwest Virginia has been an ideal base of operations for Tempur Sealy for nearly 20 years because of the region’s proximity to major interstates and access to the company’s customer base,” said Governor Northam. “As one of the largest employers in the area, this expansion will allow the company to increase production capacity to ensure the future viability of its Scott County plant. Creating quality jobs in the advanced manufacturing sector is more important than ever as we work to mitigate the economic impacts of the pandemic, and we thank Tempur Sealy for their continued partnership.”
Tempur Sealy is a global leader in the design, manufacturing, and distribution of bedding products. The company’s highly recognized brand portfolio includes Tempur-Pedic, Sealy® featuring Posturepedic® Technology, and Stearns & Foster®. Headquartered in Lexington, Kentucky, Tempur Sealy operates two manufacturing facilities in Albuquerque, New Mexico and Duffield, Virginia. Tempur Sealy employs more than 5,000 throughout the United States, with 300 employees at its Duffield facility.
“We are proud that Tempur Sealy has again chosen to reinvest in our Commonwealth and expand its presence in Scott County,” said Secretary of Commerce and Trade Brian Ball. “As our manufacturing sector continues to thrive, Virginia’s commitment to job training and providing a skilled workforce pipeline ensures our valued businesses have the talent they need to grow. We appreciate Tempur Sealy’s commitment to Southwest Virginia, and congratulate the company on its continued success.”
“Tempur Sealy has expanded a number of times since opening in Scott County in 2001, and this expansion will enable the Duffield plant to increase its production and support the growth of Tempur Sealy’s award-winning products,” said Scott Thompson, Tempur Sealy Chairman and CEO. “We have developed a strong relationship with the community, and we are fortunate to have a well-educated workforce committed to excellence in quality, safety, productivity, and environmental compliance. I want to thank the Commonwealth of Virginia, Virginia Coalfield Economic Development Authority, Tennessee Valley Authority, and Scott County for facilitating this project. The expansion will be essentially complete by the end of the year, and the capacity increase will be realized by 2022.”
The Virginia Economic Development Partnership worked with Scott County and the Virginia Coalfield Economic Development Authority (VCEDA) to secure the project for Virginia. Governor Northam approved a $110,000 grant from the Commonwealth’s Opportunity Fund to assist Scott County with the project. Tempur Sealy International is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development, as well as benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program. The company is also eligible for workforce development and training funds from VCEDA.
“We appreciate the investment in jobs and equipment that Tempur continues to make in Scott County,” said Danny Mann, Chairman of the Scott County Board of Supervisors. “Tempur is a strong regional partner and plays a vital role within the LENOWISCO region.”
“On behalf of the Virginia Coalfield Economic Development Authority, we would like to congratulate Tempur Sealy on its expansion in Scott County, Virginia,” said Jonathan Belcher, Executive Director of VCEDA. “Since locating in the region two decades ago, this operation has been a tremendous asset for the entire region, providing excellent employment opportunities for the citizens of Scott County and Southwest Virginia.”
“Virginia’s economy benefits when a business like Tempur Sealy decides to expand,” said Virginia Port Authority CEO and Executive Director Stephen A. Edwards. “Our expansion and modernization efforts are resulting in efficiency and delivery of service for the cargo owners using The Port of Virginia. Our goal is to help Tempur Sealy capitalize on our performance and grow its business, and we look forward to serving as its international trade gateway for years to come.”
“This expansion is welcome and exciting news for Scott County and all of Southwest Virginia,” said Senator Todd Pillion. “Tempur Sealy is a great employer and partner in our region, and we are lucky to have them as a corporate citizen. I appreciate the hard work that has gone into securing this investment, which will create jobs and serve as a catalyst for growth in the community.”
“We are pleased with Tempur Sealy’s announcement to expand its manufacturing operation in Duffield,” said Delegate Terry Kilgore. “Tempur Sealy continues to be a great asset to Southwest Virginia, and I am grateful for the company’s decision to make this investment in Scott County.”