Expansion Will Grow Firm's Production Capacity|ABC 13

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Expansion Will Grow Firm's Production Capacity

posted 10:36 pm Wed September 05, 2007 - Roanoke Co., VA

It's another expansion for a Roanoke County business. We first told you about Synchrony Incorporated in July. The company its doubling its workforce as the company moves to another part of the county. It's a strategy that's paying off for Roanoke County.

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It's taken 15 years…

Victor Iannello, Synchrony Inc. - "one, two, three cut."

…To cut the ribbon on Victor Iannello's latest expansion.

Iannello - "It's really been the culmination of many years of hard work."

In that time, he's taken Synchrony Incorporated from his garage to a new 58,000 square foot building in Roanoke County. The expansion allows Synchrony to turn up production of high speed motors, generators and magnetic bearing systems.

Iannello - "It's another example that it's possible to incubate a technology company in the region and grow that company to be a successful business and produce a world class innovation and compete on a global basis."

For the county, Synchrony's success isn't a surprise. Economic Development officials say close to 80 percent of the county's growth comes from existing businesses.

Butch Church, County Supervisor - "I don't know of a single business in the United States, maybe the world, that's started out with a thousand employees. Everybody's started out on the ground level."

County officials say one of their goals is to encourage small business, then watch them grow, with the hopes they will stay in the region.

Church - "His future is just going to be straight up. It's going to grow and grow, and we want to be a partner with him in that growth."

Iannello - "The real value of the business, the innovation, the engineering that's going to happen will remain here in the Roanoke Valley."

Synchrony's biggest clients are the U-S Air Force and Rolls Royce. The company plans to double its workforce to 56 within the next 12 months.

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