News & Media

Contact Us at Martinsville EDC
printer friendly page

Drake Extrusion completes a Third Expansion within Eighteen Months


Apr 19, 2012
FOR IMMEDIATE RELEASE

Contact: Mark Heath
President/CEO
Martinsville Henry County Economic Development Corporation
276-403-5940
mheath@yesmartinsville.com

Tim Hall
Deputy County Administrator
276.634.4605
thall@co.henry.va.us

John Parkinson
CEO
Drake Extrusion
276-632-0159
jparkinson@drakeextrusion.com

Drake Extrusion completes a Third Expansion within Eighteen Months

Martinsville, VA (April 19, 2012) - The Henry County Board of Supervisors and the Martinsville-Henry County Economic Development Corporation are pleased to announce that Drake Extrusion has expanded its production capacity for the third time within eighteen months. Drake's most recent capital investment was $3 million in new machinery for product line expansion that will result in the hiring of 25 new full-time employees, with an average wage of $14 per hour for skilled operators.

The EDC worked with the Virginia Department of Business Assistance, which is providing recruiting and training support through the Virginia Jobs Investment Program (VJIP).

"We have expanded six times since opening our facility here in 1995," says John Parkinson, CEO of Drake Extrusion. "The workforce along with the local business climate has allowed us continued success. Drake is committed to Martinsville-Henry County and appreciates the community's commitment to our organization."

"Drake Extrusion continues to be one of our best success stories," said Jim Adams, Chairman of the Henry County Board of Supervisors. "Its growth solidifies the company's commitment to our community and we appreciate the confidence in our citizens."

"It is always exciting to have existing industry expand," says Mark Heath, President/CEO of the Martinsville-Henry County Economic Development Corporation. "One of our main focuses is to help our existing industry grow and for Drake to have increased their tax base by $6 million within the last 18 months and hire nearly 50 people is rewarding. Drake is an exceptional corporate citizen and we look forward to future growth."

Drake manufactures the world's finest quality polypropylene fiber used mostly for automotive, home furnishing and carpet applications. Drake, whose home office is in England, opened its first and only U.S. manufacturing center in the Martinsville Industrial Park in 1995.

The mission of the Martinsville-Henry County Economic Development Corporation is to create new job opportunities and expand the tax base for the area. The organization strives to support and develop local industry, as well as market Martinsville-Henry County globally as an exceptional place to live, work and play.
The EDC is a public-private partnership between the City of Martinsville, Henry County, the Martinsville-Henry County Chamber of Commerce, the Martinsville-Henry County Chamber's Partnership for Economic Growth (C-PEG) and the Harvest Foundation of the Piedmont.
                                                                        ####

 

Martinsville Virginia