GRUNDY, Va. (WJHL) — Economic development officials say a Buchanan County business will move into a new building and create 40 new jobs as well.
The Virginia Coalfield Economic Development Agency announced on Friday that Paul’s Fan Company will relocate to the Southern Gap Industrial Park.
The VCEDA says the move is projected to create 44 full-time and two part-time jobs within the first year and 82 full-time jobs within 10 years.
The company, which manufactures fans for both mining and non-mining industries, currently has 42 full-time employees and operates out of several buildings in the Big Rock area.
The project involves a $5.6 million loan from the VCEDA and a $1.32 million investment by Paul’s Fan Company, according to the VCEDA.