High Purity Systems will hire 105 new employees and move to a new headquarters three times the sizes of its current digs.
- It’s an $8.5 million investment for the city.
The firm makes pipes and performs welding services for hospitals, biopharmaceuticals, and micro-electronics makers such as Manassas-based Micron. It has also produced piping for the Wallops Island, Virginia NASA launch facility.
- Historically, most of High Purity’s customers have been in the Interstate 270 corridor in Maryland
- It was going to relocate to the state.
- Virginia officials began working with the company in March to convince it to stay.
- The firm has been in Manassas for 30 years.
The company’s new headquarters on Euclid Avenue will be three times the size of its current location.
- The expanded company will be located on Euclid Avenue in Manassas, in the site of the former Tom’s Trucking headquarters.
- 105 new employees will be hired.
- 12 new employees have been hired since March.
- Average annual salaries will be $104,000.
The deal was approved last night by Manassas Economic Development Authority (EDA), said city Economic Development Manager Nicole Smith.
- EDA will give a $150,000 cash grant to the company.
- A clawback clause will mean 100% repayment of the grant if the company closes in the first year.
- 20% repayment if the company closes in years two through five (ie: the company pays back 80% if it closes in year two).
- The firm will also receive $260,000 in state tax credits.
The EDA estimates a $25,000 annual return on investment.
- Most of that will be paid by the firm in city machinery and tools taxes.
This latest company announcement brings the total private investment in the city to $3.3 million in a little over a year.
- That includes a $3 billion expansion of Micron — the state’s largest economic development deal.
- 1,300 new jobs will come as a result of this investment, said Smith.