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Dignitaries and company executives cut the ribbon Friday on the newly renovated Waterways Industrial Park facility by Advantage Valley in Putnam County.
The first business to locate in the industrial site is Centauri Ground Support. The company is a joint venture between international mining equipment company Sandvik and Alpha Metallurgical Resources, a mining company with operations in Virginia and West Virginia.
The companies will invest $25 million to establish a mining equipment manufacturing operation at the site, creating between 120 and 150 new jobs.
“Today’s ribbon cutting marks an exciting new chapter for the Waterways Industrial Park and for Putnam County. Centauri Ground Support’s investment and commitment to creating new, good paying jobs is exactly the type of economic growth we need in West Virginia,” U.S. Sen. Shelley Moore Capito said.
The 100,000-square-foot facility will be primarily focused on rock bolt and resin capsule manufacturing but may expand in the future. The joint venture will also sell ground support products to other customers in the U.S. market.
“When we first took over the building, it was not a marketable industrial space,” Advantage Valley President & CEO Terrell Ellis said. “With the help of our partners, we have transformed this facility from the ground up into a site ready for development and industrial investment.”
Advantage Valley Inc. is a non-profit economic development organization that works across the public and private sectors to promote and strengthen the economy a nine-county region that encompasses Boone, Cabell, Clay, Jackson, Kanawha, Lincoln, Mason, Putnam, and Wayne Counties.
The joint venture company was first announced on May 13.