Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Advertisement

Header Primary Menu

  • Issues
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Home News Regions CRE_other_regions Altec Industries to invest $30 million in fifth expansion in Botetourt County

Altec Industries to invest $30 million in fifth expansion in Botetourt County

Published October 24, 2017 by Paula C. Squires

Altec Industries said Tuesday that it plans to invest $30 million in a 65,000-square-foot expansion at its manufacturing plant in Botetourt County.

This is the fifth time the company has expanded since it began manufacturing aerial trucks for the electric utility and telecommunications industries at its plant at Botetourt Center at Greenfield in 2001.

The latest expansion is expected to create 180 new jobs.

“We are able to grow in Virginia and in Botetourt County because this is a pro-business environment with the logistics and infrastructure to help Altec succeed,” John Herrig, the company’s general manager, said in a statement.

“The continued success of Altec in Botetourt speaks volumes about the county and the Roanoke Region as a business location,” Botetourt County Administrator Gary Larrowe said in a statement.

Altec is a leading employer in Botetourt County and a member of Botetourt’s transportation manufacturing cluster, joining companies such as Dynax America, Metalsa, and Eldor Corp.

Founded in 1929 and headquartered in Birmingham, Altec is a provider of products and services to the electric utility, telecommunications, tree care, lights and signs, and contractor markets.  

In the Roanoke area, the transportation manufacturing industry typically is a higher-wage industry that creates additional indirect jobs and economic benefits.  Economic impact modeling by the Roanoke Regional Partnership indicates the expansion will have an overall annual economic impact of $143.4 million at full implementation and will spur creation of more than 295 secondary jobs.

Gov. Terry McAuliffe approved a $400,000 performance-based grant from the Commonwealth’s Opportunity Fund as well as a $300,000 Virginia Investment Partnership grant.

The Virginia Jobs Investment Program will provide services to support the company’s employee training activities. Botetourt County is providing a $440,500 performance-based grant.

Related Stories

Virginia Business logo

Site Selection magazine names Georgia top state for business in 2014

Virginia Business logo

Applied Felts plans to expand in Henry County

Virginia Business logo

NIBCO expansion expected to create 30 jobs in Augusta County

Trending

13th annual Best Places to Work

Making strides

It’s back!

After the crisis

Fort Monroe development moving forward

Sponsored Stories

Working at Pinnacle Financial Partners

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Advertisement

Advertisement

Trending

13th annual Best Places to Work

Making strides

It’s back!

After the crisis

Fort Monroe development moving forward

Sponsored Stories

Working at Pinnacle Financial Partners

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk