FY 2026 Annual Report

Nathan Trotter

Announced by Gov. Youngkin on September 9, 2025

Nathan Trotter announced its investment of approximately $65 million to develop the Tin Ridge facility, a 115,000-square-foot tin production and processing plant on a 44-acre site in Henry County, creating an estimated 118 new jobs. The project will establish the nation’s first large-scale facility capable of refining both tin concentrate and recycled tin, significantly strengthening the domestic supply of a critical mineral essential to electronics, advanced manufacturing, and national defense systems. Supported by state and local economic development partners, including a $1.5 million Commonwealth Opportunity Fund grant, a $500,000 Grant from Henry County, $650,000 from the Harvest Foundation Opportunity Fund, and $500,000 from the M-HC EDC, the project reinforces Martinsville-Henry County’s position in advanced manufacturing. 

Fukoku Korea

Announced by Gov. Spanberger on March 5, 2026

Fukoku America will invest $18.9 million to acquire and equip a shell building at the Patriot Centre Industrial Park, establishing its newest U.S. manufacturing facility and creating 60 new jobs. The plant will produce rubber damper pulleys for automotive engines and thermal gap fillers for electric vehicle batteries. Fukoku Korea, founded in 1987, is a global manufacturer of specialized automotive components, with a focus on rubber-based products and engine parts that reduce noise and vibration. The company supplies major automakers including Hyundai, GM, and Ford. To support this expansion, Fukoku Korea established FKC America as its U.S.-based operating entity. 

Rural King 

Announced by Gov. Spanberger on June 30, 2026

Rural King announced a $40 million investment to establish a new distribution center in Henry County, creating 150 new jobs that will strengthen the region’s workforce. The 500,000-square-foot facility at Patriot Centre Industrial Park will serve as a key hub in the company’s expanding distribution network, supporting the movement of farm, home, and outdoor products to customers across the Mid-Atlantic and beyond. This project was supported locally through a $400,000 grant from Henry County and $400,000 from the Harvest Foundation Opportunity Fund. 

Tract 2 Shell Building is Complete in the Patriot Centre

Construction is now complete on the new shell building on Tract 2 in the Patriot Centre Industrial Park, bringing a major new opportunity for business growth to our community. This 100,440-square-foot building is move-in ready and designed with flexibility in mind—it can expand to twice its current size, with the potential to grow even larger as needed.

Built with durability and efficiency at the forefront, the facility offers high ceilings, multiple loading docks, and easy access for large vehicles, making it ideal for manufacturing, warehousing, or distribution. The site also includes ample parking and room to grow, sitting on 20 acres with additional land available.

Update on Commonwealth Crossing

Development continues to move forward at the Commonwealth Crossing Business Centre, with Tract 2 now fully graded and positioned for future industrial development. This milestone marks an important step in preparing the site to accommodate new business investment and job creation opportunities in Henry County.

In October 2025, the Henry County Board of Supervisors approved a contract with the Timmons Group to complete engineering design plans for Tract 3 at Commonwealth Crossing. The project was supported by a $750,000 award through the Virginia Business Ready Sites Program, which Henry County received in August 2025 to help advance site preparation efforts.

The engineering study has now been completed, providing a roadmap for the next phase of development and bringing the 118 acre Tract 3 property one step closer to becoming a fully market-ready industrial site.

In FY 2026, the Tourism Division: 

• Conducted 204 Site Visits

• Distributed 2,546 Visitor Guides

• Awarded $40,250 Sponsorships & Grants to 13 Local Businesses 

In addition to visitor-focused initiatives, the VisitMartinsville team also hosted its second annual Tourism Collaborative to support local tourism businesses, community agencies, and regional tourism partners. This year’s event dialed in on understanding and improving social media metrics, trends, and best practices with a presentation by the Virginia Tourism Corporation’s social media team.

Over 60 attendees participated.