Polycap LLC, a Toronto-based company, will invest $7.7 million in Russell County to establish its first U.S. manufacturing facility.
The company will set up shop in the 76,000 square foot shell building in Lebanon, creating 48 new jobs.
Polycap is a leading manufacturer of specialty caps and closures for plastic packaging servicing personal care and home product, food and beverage container, medical device, and pharmaceutical product industries.
Governor Ralph Northam approved a $130,000 grant from the Commonwealth’s Opportunity Fund on behalf of Russell County.
“Growing the Southwest Virginia economy and making Virginia’s rural communities more competitive is a top priority for my administration, and we are please that this significant project will bring a new corporate partner and critical jobs to the region,” says the Governor.
An additional loan of $3.37 million was also approved by the Virginia Coalfield Economic Development Authority.