Harvest Foundation announces $7M investment in Martinsville, Henry County

Southside Virginia News

Mark Heath (left), president and CEO of the Martinsville-Henry County Economic Development Corporation (EDC), is pictured at the September announcement of SCHOCK GmbH. The German-based company plans to invest $85 million to establish its first U.S. manufacturing operation in Henry County. Also pictured (from left) are Sen. Bill Stanley (R-Franklin County) and Del. Les Adams (R-Pittsylvania).

MARTINSVILLE, Va. (WFXR) – The Harvest Foundation will invest a total of $7 million over the next four and half years at the Martinsville-Henry County Economic Development Corporation (EDC) to continue MHC’s upward trajectory of job creation, wage growth and tourism.

“A robust economy with diverse businesses offering living-wage jobs is at the bedrock of a thriving community. The EDC is our largest recruiter for jobs and industry to Martinsville-Henry County. They work to attract outside investment from national and international companies to bring jobs to the region that pay living wages. It is our hope that this long-term investment from Harvest will support the EDC in its commitment to continued stability and lasting success.”

DeWitt House, Senior Program Officer at the Harvest Foundation

Prior to the COVID-19 pandemic, local manufacturing jobs increased at a steady clip from 2013-2019 – following 22 straight years of net loss.

Even during the challenges brought on by the pandemic, the EDC maintained its highly successful record in job creation and increasing the local tax base.

Since July 1, 2018, the EDC assisted with creating 1,358 new jobs, eight new company announcements, nine expansions of existing companies and facilitated $379.5 million in capital investment for Martinsville-Henry County.

Also, the average weekly wage rose from $579 in 2010 to $696 in 2020.

For every dollar that the Harvest Foundation invested at the EDC since 2019, $59.96 was brought back into the local economy.

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