Pyott-Boone to invest in $6 million expansion in Tazewell County

TAZEWELL COUNTY BOARD OF SUPERVISORS AND INDUSTRIAL DEVELOPMENT AUTHORITY ANNOUNCE 80 NEW JOBS
- Electronics Company to invest in $6 million expansion in Tazewell County

TAZEWELL - Tazewell County Board of Supervisor Chairman D. Michael Hymes announced today that Pyott Boone Electronics will invest $6 million in an expansion to build an internationally competitive company and industry leader in safety and monitoring and communication systems for underground coal mining. The company plans to create 80 new jobs over the next 36 months in Tazewell County. Tazewell County and the Commonwealth of Virginia successfully competed with Australia for the project.

Originating in 1971, Pyott Boone Electronics was acquired by Prairie Capital and Vierville Capital in April, 2011. The service-based company was a family-owned business having one owner for 32 years. Pyott-Boone Electronics was initially founded to supply eastern U.S. coal mines with quality electronic equipment but over the years the company has expanded their sales to include many other industries all over the world. Currently they sell equipment to coal mines, copper mines, gold mines, metal and non-metal mines, salt mines and tunneling operations. The well respected products manufactured by Pyott-Boone Electronics employees are components in some of the most sophisticated equipment in the world. As a result of their efforts, they have won numerous awards in excellence and customer quality.

Stuart Champion de Crespigny, CEO of Pyott-Boone Electronics, said, "Our community will not only benefit from jobs and capital investment but this investment will also help to build an internationally competitive company and industry leader in mine safety, proudly calling Tazewell home."

The Virginia Tobacco Indemnification and Community Revitalization Commission approved $600,000 in Tobacco Region Opportunity Funds for the project.

The Virginia Coalfield Economic Development Authority (VCEDA) has approved an up to $250,000 grant to the company to assist on the expansion project. "It is a pleasure for VCEDA to be involved in helping an existing business in our region to expand, retain jobs and provide new jobs. It is especially gratifying to be able to assist a company that has operated successfully in the VCEDA region and has gone through several expansions at this Tazewell County location," said Donald Baker, VCEDA chairman.

"Pyott-Boone Electronics is one of the largest manufacturing companies in Tazewell County and we are pleased to see its continued growth and success," said Hymes, chairman of the Tazewell County Board of Supervisors. "Today is a prime example of industry and community leaders partnering together. Pyott-Boone's decision to further invest in the area is a true testament to the region's pro-business climate and we are excited about the creation of 80 new employment opportunities. We look forward to a continued, long and successful partnership with Pyott-Boone Electronics".

Jim Spencer, County Administrator and Industrial Development Authority Director, commented, "Margie Douglass and I have had the privilege of working with Pyott-Boone for many years and have seen their steady growth. We are excited about this expansion in the area of job creation and capital investment and we are eager to work with the new management as they move the company forward in the global market."