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Coresix Precision Glass Coming to James River Commerce Center

FOR IMMEDIATE RELEASE - Image

July 29, 2003

Contact:

 

Keith A. Taylor, Office of Economic Development, James City County (757) 253-6607

Alan Graham, Coresix Precision Glass Company, (757) 888-0898

Alan Meetze, Druckr & Falk Commercial Real Estate, (757) 873-1401

 

James City County, its Industrial Development Authority (IDA), and Williamsburg Developments, Inc., (WDI) are pleased to announce that Coresix Precision Glass, Inc., is acquiring 35-acre parcel in James River Commerce Center from WDI for the purpose of building its own new manufacturing facility. The move represents an expansion for this two-year-old company, which currently leases space in Newport News. Coresix custom cuts and finishes optical-grade glass for a variety of high technology uses. The company will be making an initial investment of $2.3 million to buy the site and build and equip a 33,000-square foot facility, where it will employ approximately 30 people. Occupancy is targeted for this coming winter.

 

Alan Graham, President of Coresix, noted, "Our business is growing rapidly, and we are looking forward to having a facility that is specifically designed to support our precision manufacturing requirements, as well as accommodate our growing volume of orders. "The ability to expand was also a critical location factor," added Graham. "We are on an aggressive schedule, and WDI was able to offer us a choice of large, ready-to-go James River Commerce Center sites in an attractive park setting."

 

Bruce Goodson, Vice Chairman of the County Board of Supervisors and representative of the Roberts District in which the James River Commerce Center is located, is pleased to see Coresix join a growing number of companies locating in the County's enterprise zone. "The business announcements we are seeing now in the James River Enterprise Zone have been partly enabled by local public policy decisions that have created an appealing business environment there," said Goodson. "I welcome Coresix and look forward to their continued growth in James City County."

 

James River Commerce Center is a 220-acre light industrial park, being jointly developed and marketed by WDI and the County's IDA, and is located in the State-designated James River Enterprise Zone. Other tenants in the park include Ball Metal Container, Service Metal Fabricators, and Landmark Auto Parts, which will complete its new building there later this year. Coresix's investment will make it eligible for enterprise zone incentives, according to County officials.

 

Keith Taylor, Economic Development Director for the County and Secretary to its IDA, commented that Coresix is a good example of the technology-based types of companies that fit well with the County's economic development plans. "This is a high-quality, precision manufacturer with excellent growth potential," he said. "We are pleased they selected James River Commerce Center and will be able to use the County's fast-track review and permitting program."

 

This expedited review program has been used successfully on a number of qualifying economic development projects. One of the most recent and notable is the nearby two million square-foot Wal-Mart Import Distribution Center one-half mile east of Coresix's new corporate home.

 

Alan Meetze, Vice Director of Commercial Properties for Drucker and Falk, represented WDI in the transaction with Coresix.

 

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