Thursday, September 15, 2011
'A Banner Year for Botetourt County' Continues: 25 More Good Jobs
An Austrian company today announced it is establishing a U.S. subsidiary in Botetourt County to manufacture and market specialty optical fiber, investing $5 million in new construction and equipment and creating 25 high-tech, high-paying jobs.
FCTech Inc., a subsidiary of NBG Holding, plans to build a new facility at the Botetourt Center at Greenfield in Daleville. The company’s optical fiber will be used in high-performance sensor applications for the global energy, healthcare, industrial and defense industries.
Average wages for the new jobs will range from $70,000-$80,000.
“I would like to extend a warm welcome to FCTech and NBG Holding,” said Jim Cheng, Virginia Secretary of Commerce and Trade, who made the announcement at a news conference at Greenfield Education and Training Center. “The Administration and the partners involved were determined to bring NBG to Virginia, and we are extremely pleased at the positive outcome of our efforts.”
The $4 billion global market for distributed fiber optic sensors is forecasted to double over the next four years, driven in large part by the continued growth of fiber optic sensing applications. Market segments that will see the most growth are in well oil and gas sensing, homeland security applications, and defense underwater monitoring.
“Our company has a solid track record of establishing and growing companies in the fiber optics market. This year we initiated a strategy to open new markets, principally in the U.S., and we are delighted to join other international companies that have found Botetourt County to combine a quality workforce with low costs of doing business,” says Karl Bauer, CEO and managing director of NBG Holding and president of FCTech. “We look forward to starting our new U.S. operation and appreciate the support of Botetourt County and the Commonwealth of Virginia.”
The company plans to invest $2 million in a new facility and $3 million in equipment and employ approximately 25 people by 2015. Construction is expected to start at the end of September. The company expects to start shipping to customers by next summer. A significant portion of the FCTech sales will be international.
Botetourt County, the Roanoke Regional Partnership, the Virginia Economic Development Partnership, and the Virginia Jobs Investment Program of the Virginia Department of Business Assistance worked together on this project.
“It has been a banner year for Botetourt County,” says Gerald Burgess, county administrator. “We’ve announced the location of Canatal and expansions at Dynax America, Arkay Packaging and TREAD Corporation. And now, FCTech lends a high-tech flavor to our run of success. So far this year, companies have announced investments of nearly $35 million and 378 new jobs. And with the region’s lowest unemployment rate, Botetourt is a shining example of economic opportunity.”