Company will be Expanding in Manufacturing, Defense, and Public Safety Tech Products, Creating 126 New Jobs
Nov. 22, 2024 RICHMOND, VA — Governor Glenn Youngkin today announced the relocation of Wrap Technologies*** (Nasdaq: WRAP) to Southwest Virginia, marking a significant expansion of the company’s commitment to defense and public safety technology. The new manufacturing and distribution facility at Project Intersection in Norton will result in 126 new jobs, contributing to the acceleration of the region’s growing tech corridors.
The new 20,000-square-foot facility in Norton’s Project Intersection will serve as the central hub for Wrap’s manufacturing and distribution operations. This expansion will support the development of next-generation tech products, including Wrap’s innovative AI and VR training platforms, integrated body camera systems, and planned advanced drone technologies designed for safer and more efficient law enforcement practices.
“Virginia continues to be a prime location for leading technology companies,” said Secretary of Commerce and Trade Caren Merrick. “Wrap Technologies’ investment will not only advance our public safety infrastructure but also contribute to economic development and high-tech job creation in Southwest Virginia.”
“Our move to Virginia allows us to work closely with our already established base, focus on our Made in America tech strategy, and begin implementing our plans to deliver an integrated solution to our customers across the state,” said Wrap Technologies Founder and CEO Scot Cohen.
| The Virginia Economic Development Partnership worked with the Lonesome Pine Regional Industrial Facilities Authority, the LENOWISCO Planning District Commission, InvestSWVA, the Virginia Coalfield Economic Development Authority, and the Virginia Tobacco Region Revitalization Commission to secure the $4.1 million project for Virginia. Governor Youngkin approved a $425,000 grant from the Commonwealth’s Opportunity Fund to assist with the project. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program. The Virginia Tobacco Region Revitalization Commission awarded an $800,000 grant through its Southwest Economic Development program to assist with this project. |
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***For more information about Wrap Technologies (the company and its products) click this link: De-Escalation Solutions for Law Enforcement – WRAP