ROCKY MOUNT, Va. (September 17, 2019) – Construction is under way on the site of the first business opening at the new Summit View Business Park: the administrative campus for ValleyStar Credit Union.
ValleyStar is investing an estimated $7 million and creating 20 new, high-paying jobs with a total of 40 positions at its new 19,000-square-foot building on 8 acres of land. Phase I of the new facility is expected to be open by the end of 2020. “The Summit View Business Park is now much more than a vision to provide economic development opportunities for our residents,” Franklin County Board of Supervisors Chairman Cline Brubaker said at a groundbreaking ceremony Tuesday. “Summit View is now on its way to becoming a community hub for both jobs and recreation.”
Summit View has been undergoing a significant amount of construction including two pad-ready sites, all utilities, a community-event pavilion, and a landscaped entrance road from U.S. 220. Plans for the 550-acre business park include athletic fields, a BMX bicycle course, a festival area, a visitor center, and multi-use trails.
“We congratulate ValleyStar for its confidence in Franklin County and commitment to building our future together,” Brubaker said. “The Summit View Business Park is making Franklin County a major player for a wide variety of economic development prospects looking for low costs of doing business, a skilled workforce, and ready-to-go sites.”
The new jobs will pay an average annual salary and benefits of nearly $70,000, which is significantly higher than current prevailing wages and benefits in the county. The project is supported by Franklin County, which is transferring the property at no cost to the company, and a $40,000 grant from the Tobacco Region Opportunity Fund. Another future tenant, Stik-Pak Solutions, will soon begin construction on a $14.3 million project that will relocate and expand its Franklin County operation into a new 100,000 square-foot facility in the park.
“This is an exciting time in our history,” remarked Delbert Lee Morgan, President/CEO of ValleyStar Credit Union. “We’re delighted to be the first tenant at Summit View as it gives us an opportunity to start the consolidation of our administrative offices into one centrally-located campus, plan for future growth, and give our employees a unique and pleasant work environment.”
ValleyStar Credit Union has been in business since 1953 and serves cities and counties in Virginia and North Carolina. The Credit Union is over $500 million in assets with more than 55,000 members. ValleyStar is a full-service financial institution that offers consumer and commercial loan products and services. Headquartered in Martinsville, Virginia, ValleyStar operates nine branch offices in the Collinsville, Danville, Martinsville, Richmond, Roanoke, Rocky Mount, South Boston, and Waynesboro communities. For more information, visit valleystar.org.