RICHMOND – Governor Bob McDonnell announced today that Solution Matrix, Inc. (SMI), a leader in cold-therapy products for the health care industry, will invest $2.25 million to relocate its headquarters and manufacturing operations from Pennsylvania to Franklin County. The company will construct a 25,000-square-foot facility in the Franklin County Commerce Center, creating 80 new jobs within three years.
“Solution Matrix is a great addition to the corporate partners located in the Franklin County Commerce Center,” said Governor McDonnell. “After a competitive search the company determined that Franklin County offered the right business climate and access to its target market. I am pleased that the company will offer 80 new jobs that pay above the average prevailing wage for the locality.”
“The Commonwealth is fortunate to gain another health science company’s headquarters and manufacturing operations,” said Jim Cheng, Virginia Secretary of Commerce and Trade. “SMI’s products are instrumental in the recovery and progress of orthopedic patients, and will soon be reaching patients in Franklin County.”
SMI is a women-owned, veteran-operated manufacturer of the highest quality cold therapy products for the orthopedic community. Recognized as the “Gold Standard” for patient rehabilitation in treating post-surgical procedures and acute injuries, the company’s long-lasting, 3.5-hour Gel Bag Compression Bandage Wrap System is designed specifically for hospital total joint and sports medicine centers.
“This decision is critical to the future of our company, and our analysis proved that Franklin County, Virginia is the right partner to help us meet our growth goals,” said Keith Marshall, President and CEO of Solution Matrix.
The Virginia Economic Development Partnership worked with Franklin County and the Roanoke Regional Partnership to secure the project for Virginia. The Virginia Indemnification and Community Revitalization Commission approved $150,000 in Tobacco Region Opportunity Funds for the project. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance (VDBA) will provide funding and services to support the company’s recruitment and training activities.
“Solution Matrix is a growing business and market leader,” said Charles Wagner, Chairman of the Franklin County Board of Supervisors. “It is the kind of state-of-the-art company we seek to attract to Franklin County, and our community is pleased to welcome another health science company to the Commerce Center.”
“I am honored to be a part of the Tobacco Commission,” said David Cundiff, a member of the Virginia Tobacco Indemnification and Community Revitalization Commission. “As an organization that strives to bring jobs and revitalization to the areas of the state that are declining and deserving of these monies, it is gratifying to help win companies such as Solution Matrix.”
Posted By Valerie Garner
Categories: Business, Politics, State Politics
Tags: economy, governor