Hemp Processing Company Setting Up Headquarters in Virginia

Hemp fiber processing company FyberX is set to invest $17.5 million into its U.S. headquarters in Virginia. 

Full story after the jump.

A hemp fiber processing company is set to invest $17.5 million to establish its U.S. headquarters in Mecklenburg County, Virginia in the former Kinderton Distribution Center. The plan by FyberX, which processes raw agricultural biomass into refined natural fibers, will create 45 new jobs. 

In a statement, Ben Young, CEO of FyberX, said “Southern Virginia is strategically positioned to play a vital role in unlocking the economic potential of industrial hemp fiber in a variety of markets including textiles, construction, packaging, automotive, and bioplastics.” 

“We are excited to work with the local community to implement socially responsible best practices, including a zero-waste production model that minimizes emissions, a transparent supply chain, fair wages, and safe and state of the art processing facilities, all of which will define a new global standard for natural fiber production facilities. The Mecklenburg County facility and anticipated future facilities across the Southeast of the United States will expand the availability of domestically grown and processed hemp fiber while simultaneously providing a substantial economic benefit to not only Southern Virginia, but it’s neighboring states.” — Young, in a press release 

Gov. Glenn Youngkin (R) added that the hemp industry “provides a sustainable alternative for industrial and consumer products that will also bring economic benefits to Virginia communities and farmers.”  

The Virginia Economic Development Partnership and Virginia Department of Agriculture and Consumer Services (VDACS) worked with Mecklenburg County to secure the project for the state, Youngkin’s office said, and Youngkin approved a $150,000 grant from the Commonwealth’s Opportunity Fund to assist the county with the project.  

FyberX is also eligible to receive state benefits from the Virginia Enterprise Zone Program, which is administered by the Virginia Department of Housing and Community Development. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program. 

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