HENRY COUNTY, Va. – A South Korea-based automotive parts manufacturer plans to invest $18.9 million to open a new manufacturing plant in Henry County, a move expected to create 60 new jobs.
Fukoku Korea will operate from the Patriot Centre Industrial Park, where the company will manufacture rubber damper pulleys for automotive engines and thermal gap fillers for electric vehicle batteries.
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Founded in 1987, Fukoku is known for its rubber-based products and engine components designed to reduce noise and vibration. The company supplies major automakers, including Hyundai, General Motors and Ford.
“Fukoku Korea’s decision to establish its first manufacturing operation in Virginia highlights the Commonwealth’s strength,” said Governor Abigail Spanberger. “This exciting investment will create 60 new jobs in Henry County and bring even more innovative manufacturing to Southern Virginia. Fukoku Korea’s investment should serve as an example for all international companies: Virginia is ready to help you establish, grow, and succeed in the U.S. market.”
The Virginia Economic Development Partnership worked with the Martinsville-Henry County Economic Development Corporation to secure the project for Virginia.
Spanberger approved a $500,000 grant from the Commonwealth’s Opportunity Fund to assist Henry County.