N E W S R E L E A S E
Nov. 27, 2012
FOR IMMEDIATE RELEASE
Russell Seymour, Director, Economic Development
James City County Business & Technology Incubator client announces record year
MODU-USA, a James City County Business & Technology Incubator (JCCBTI) client, announces a record year for 2012. Revenues for the company, which designs and manufactures multi-flex modular conveyer belt systems in Stonehouse Commerce Park, have doubled from 2011.
MODU-USA is the United States subsidiary for its Malaysian-based parent company, MODU-System. MODU-USA participates in the Incubator’s Operation Quick Start program which is designed to help international companies quickly establish operations in the US. MODU-System has operations in 14 countries around the world. The company joined JCCBTI in January 2010 and their revenues have increased by a factor of 5 in two years and will exceed $1 million this year.
As a result of their rapid growth MODU-USA recently expanded their facility from 1,000 square feet to over 5,000 square feet and hired a full-time technician to help with the manufacturing and support of their systems. The company also employs contract personnel to help with system manufacturing.
The company graduated from the Incubator’s Quick Start Program in January 2011 and now participates in the Graduate Sustainment Program. The program provides on-going assistance to graduate companies. Dan DeMartine, CEO of MODU-USA, stated, “The support that we have and continue to get from the Incubator has been a key factor in the growth and expansion of our business. The have connected us with local service providers, set up an Advisory Council, linked us to the Entrepreneurship Center at the College of William & Mary’s Mason School of Business, and provided other valuable assistance. It has been a really important resource for us.”
Bill Bean, JCCBTI Director, stated that: “MODU-USA is a great client for the incubator. It is really rewarding to see them succeeding so well in these difficult economic times.”
More information about MODU-USA is available at www.moduusa.com.
JCCBTI was founded by James City County and its Economic Development Authority and is currently managed by the College of William & Mary. The Incubator offers its clients a wide-range of services tailored to their business’ individual needs, including educational programs through the Mason School of Business; development of business and financial plans; access to local service providers; and introduction to financing and funding resources. Incubator clients can range from fledgling companies to existing businesses that are transitioning to new locations.
Entrepreneurs who would like to find out more about becoming an Incubator client should contact Bill Bean at 757-221-7825 or email@example.com. More information about the Office of Economic Development is available at yesjamescitycountyva.com.
Photo Caption: Walkunder Gripper Conveyor, a product offered by MODU-USA
Photo Courtesy of MODU System America LLC