A Vinton company is investing $1.5 million to expand and upgrade its manufacturing capabilities. Governor Northam’s office says the state will provide funding to help Magnets USA retrain its workers for the new systems. The company makes magnetic and paper promotional products. It employs 70 people.
From Governor Northam’s Office: RICHMOND-Governor Ralph Northam today announced that Magnets USA, a manufacturer of primarily magnetic and paper promotional products,will invest $1.5 million in its operation in Roanoke County. The company has already purchased state-of-the-art equipment to increase capacity, including a digital press, laser engraver, and a customized enterprise resource planning system that will replace all of its current processes. Other additions are slated for this year.The company’s 70 employees will be retrained to operate the new machinery and systems with support from the Virginia Jobs Investment Program (VJIP).
“Magnets USA is an impressive entrepreneurial success story for Virginia, and I am pleased to see the company reinvesting in its Roanoke County operation,” said Governor Northam. “To stay competitive in a 21st-century economy, growing companies must upgrade processes and technologies, and ensure its employees are equipped with the most in-demand skills. We are proud to support Magnets USA, and look forward to many more years of success in the Commonwealth.”
Founded in 1990 in an old hatchback, Magnets USA began with very little money and a whole lot of passion. Founder Dale Turner traveled from Roanoke to Phoenix, stopping in almost every town along the way to pitch his magnetic business card. Today, Magnets USA serves about 35,000 customers. Each year, the company produces millions of magnetized marketing products-including calendars, sports schedules, notepads, and car magnets-for a client base that stems largely from the real estate industry.
“Magnets USA has been a valuable contributor to the Roanoke region’s economy for over 25 years, and Virginia is proud to partner with the company in its next chapter of growth,” said Secretary of Commerce and Trade Brian Ball. “From its beginning as a one-person operation to 70 employees, Magnets USA is a strong example of what entrepreneurs can accomplish in the Commonwealth.”