RICHMOND, Va. — November 3, 2022 — Governor Glenn Youngkin today announced that FyberX Holdings, a developer of technology to process raw agricultural biomass into refined natural fibers, will invest $17.5 million to establish its U.S. headquarters and production operation in the former Kinderton Distribution Center building in Mecklenburg County, Virginia. The new facility will process hemp and other agricultural products, producing fibers to supply the textile industry, and will create 45 new jobs.
“This industry is an emerging market in the United States, and I welcome the opening of the headquarters of FyberX which will unlock its growth potential in the Commonwealth,” said Governor Glenn Youngkin. “This industry provides a sustainable alternative for industrial and consumer products that will also bring economic benefits to Virginia communities and farmers, and we look forward to a successful partnership with FyberX.”
“Virginia provides the right combination of competitive assets to attract and foster the growth of forward-thinking companies like FyberX,” said Secretary of Commerce and Trade Caren Merrick. “This project is a win-win that will create 45 new jobs and revitalize a formerly vacant facility, boosting the economic vitality of Mecklenburg County and the region. Today is another step forward in our goal to bring opportunity to all corners of the Commonwealth.”
“Industrial hemp fiber has great potential in Virginia, and FyberX can unlock that potential and create a sustainable market for the Commonwealth’s hemp producers, with its investments into the processing infrastructure for this crop,” said Secretary of Agriculture and Forestry Matthew Lohr. “I commend FyberX for their bold vision and commitment to bringing this needed infrastructure to Southern Virginia.”
“Southern Virginia is strategically positioned to play a vital role in unlocking the economic potential of industrial hemp fiber in a variety of markets including textiles, construction, packaging, automotive, and bioplastics,” said Ben Young, CEO of FyberX. “We are excited to work with the local community to implement socially responsible best practices, including a zero-waste production model that minimizes emissions, a transparent supply chain, fair wages, and safe and state of the art processing facilities, all of which will define a new global standard for natural fiber production facilities. The Mecklenburg County facility and anticipated future facilities across the South East of the United States will expand the availability of domestically grown and processed hemp fiber while simultaneously providing a substantial economic benefit to not only Southern Virginia, but it’s neighboring states.”
“Mecklenburg County is excited to welcome FyberX to the community,” said Glenn Barbour, chairman, Mecklenburg County Board of Supervisors. “We are pleased to have an agricultural-related announcement in our area that creates jobs and potential for additional crops for our local farmers.”
“I am delighted that FyberX has chosen to expand in Mecklenburg County,” said Senator Frank Ruff. “Every business that comes to our region is a positive. We are delighted that they will employ over 40 direct jobs. As an additional positive, they will also provide a benefit to our farm community, which will now have another crop for their land. The reason I offered the Hemp legislation several years ago was for exactly this type of use.”
“We are proud to welcome FyberX to our community,” said Delegate Tommy Wright. “The addition of 45 new jobs is great news for Mecklenburg County, and we are thankful to Governor Youngkin, the Virginia Economic Development Partnership, and all the other partners for bringing this project to fruition. The investment by FyberX increases the tax base and expands economic opportunity throughout rural Virginia, and we thank FyberX for its confidence in the Commonwealth.”
FyberX was founded in 2019 to build the foundational infrastructure required to process raw agricultural biomass into refined natural fibers, creating more environmentally friendly manufacturing solutions. The company focuses on industrial hemp sources in the U.S. and will use its patented technology to process hemp for use in sustainable replacements for the textile, packaging, and construction industries. FyberX plans to build a green supply chain by working with industrial hemp and other domestic non-tree sources of fiber and establishing centralized large-scale processing centers throughout the U.S.
The Virginia Economic Development Partnership and Virginia Department of Agriculture and Consumer Services (VDACS) worked with Mecklenburg County to secure the project for Virginia. Governor Youngkin approved a $150,000 grant from the Commonwealth’s Opportunity Fund to assist Mecklenburg County with the project. FyberX is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program. VDACS will assist Virginia hemp producers with accessing this market opportunity and offer resources to develop the physical and regulatory infrastructure this new industry needs to be successful.
Posted: November 8, 2022
Source: Virginia Office of the Governor