December 2007
Volume 7, No. 6
The E-newsletter of the Roanoke County Economic Development Department is
designed to showcase the investments and achievements of our existing business
partners. For additional information about doing business in Roanoke County,
visit our website www.yesroanoke.com.
SYNCHRONY INC. SECURES
$10 MILLION
IN VENTURE CAPITAL
Supplying his magnetic bearings, controls and power systems on a global basis is the
goal of Dr. Victor Iannello, Founder, President and CEO of Synchrony Inc., in Valley TechPark in
West Roanoke County. On November 29th, this task became a little easier
when Iannello announced that Synchrony had secured $10,000,000 in Series B financing
from Third Security, LLC and NewVA Capital Partners, LP.
To read more, click here for the Roanoke Times article.
Synchrony Inc. www.synchrony.com
Dr. Victor Iannello (l), Founder, Chairman of the Board, and
President of Synchrony Inc. being interviewed by a member of the media.
CREATIVE MAVERICK RECEIVES RECOGNITION
Ted Melnik, President of Novozymes Biologicals, has been named 2007 Business Person
of the Year by the Blue Ridge Business Journal. In the article, Ted is described by
peers as efficient, smart, approachable, sharing, enthusiast and someone who seeks
the best. To read more of The Blue Ridge Business
Journal's article, click here.
The Virginia Council on Advanced Technology Skills (VCATS), recently recognized Novozymes
Biologicals as one of the founding partners of VCATS, a statewide initiative co-led by the Virginia
Biotechnology Association, the Virginia Manufacturers Association and the Training and Development
Council. This project will establish solutions to the upcoming shortage of advanced manufacturing
workers in Virginia.
To read more, please click here.
Novozymes Biologicals
www.novozymesbiologicals.com
STATE OF THE COUNTY
MAKING THINGS HAPPEN IN 2007
On November 27, 2007, Roanoke County Board of Supervisors Chairman Joseph McNamara delivered
the State of the County address at Holiday Inn Tanglewood. The address was organized and
facilitated by the Roanoke Regional Chamber of Commerce. Mr. McNamara's address was entitled
"Making Things Happen in 2007" and highlights of his presentation are listed below:
•
Roanoke County has just finalized an agreement with
Franklin County and the Water Authority to expand a
water line into Franklin County.
• Construction of the $120
million dollar Regional Jail is currently underway, representing a partnership of Roanoke
County, Franklin County, Montgomery County, and the City of Salem.
• In Fiscal Year 2007, Roanoke
County recorded $53 million in new commercial and industrial investment and another $84 million
in residential investment.
• Significant County projects
include North County Fire Station, South County Library, and a Multi-Generational Recreation
Center.
To read more of Chairman McNamara's remarks, click here.
County of Roanoke
www.roanokecountyva.gov
PLASTICS ONE'S GROWTH
RESULTS IN EXPANSION
Plastics One recently completed a $1.7 million expansion at their South County location on
Merriman Road. The 15,150 sq. ft. expansion will provide Plastics One with additional
warehouse and manufacturing space to support their business growth and success. The company
plans to hire 30 new employees and was assisted with their expansion plans by Roanoke County
through the Public Private Partnership Policy.
Established in 1949, Plastics One specializes in the manufacture of custom cable assemblies
and connector systems for the medical and communications markets. Their operation in Roanoke
has played a critical role in advancing Virginia’s presence in the medical device and
plastics industry sectors, and they have been an important contributor toward the Roanoke
regional economy for more than 57 years. Plastics One has grown their workforce and their revenues
by five times in less than 20 years.
Plastics One Inc.
plastics1.com
DARREN R. JACKSON APPOINTED PRESIDENT & CEO OF ADVANCE AUTO PARTS
On Advance Auto Parts, Inc., the second-largest retailer of automotive aftermarket parts,
accessories, batteries and maintenance items in the United States and the only Fortune 500
corporation in the Roanoke Valley, has announced that Darren R. Jackson has been appointed
President and Chief Executive Officer effective January 7, 2008. CFO Magazine listed Mr.
Jackson as one of the top 20 young chief financial officers likely to shape the profession.
 Jackson, who has been a member of the Advance Auto Parts Board of Directors since 2004,
and will remain on the Board, will replace interim President and Chief Executive Officer,
John Brouillard. Mr. Brouillard, who also joined the Advance Auto Parts Board in 2004, will
assume the position of non-executive Chairman.
To read more, click here.
Advance Auto Parts
www.advanceautoparts.com
RVTV's ROANOKE COUNTY BUSINESS PARTNERS
The Center for Research and Technology (CRT)is the current feature show on Roanoke County Business
Partners. Doug Chittum, Director of Economic Development, joins the show to provide an overview of
the park and take part in the interviews. Ted Melnik, President of Novozymes Biologicals, and Robb
Plagemann,
General Manager of Tecton Products, share their perspectives of CRT as park residents.
David Shelor, CRT Design Team, and Carole Brackman, Roanoke County Economic Development
Authority, convey how the park was developed and share community viewpoints about working with
Roanoke County for future community investment.
RVTV Channel 3 www.rvtv.org
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