Sterling Semiconductor Expands In Loudoun County - Company Will Create 172 Jobs And Invest $30 Million
Source: Uniroyal Technology Corporation
RICHMOND, Va. Governor Jim Gilmore today announced that Sterling Semiconductor, Inc., a subsidiary of Uniroyal Technology Corporation (Nasdaq: UTCI), will expand in Loudoun County. The company will invest approximately $30 million in the expansion while creating up to 172 jobs. Virginia successfully competed with Connecticut and Florida for the investment.
``Sterling Semiconductor will be satisfied with this decision as they reinvest here in Virginia, said Governor Gilmore. ``As the East Coast leader for semiconductor fabrication, the Commonwealth is respected among industry executives.
Sterling Semiconductor produces single crystal silicon carbide (SiC) substrates as well as epitaxial thin films on SiC substrates. Silicon carbide s unique properties allow SiC-based devices to operate efficiently power levels, temperature and frequencies exceeding devices made from silicon and other materials. SiC s unique properties are key to advancing technologies in wireless communications, industrial process controls, and optoelectronics.
Sterling just recently leased a 50,000 square foot facility in Mercure Business Park in Loudoun County, and it is anticipated that Sterling will take occupancy of that facility in early 2001. ``After reviewing several options for the location of Sterling s new facility, we choose Virginia, said Robert L. Soran, President and Chief Operating Officer of Uniroyal Technology Corporation. ``The business climate for high-tech companies, such as Sterling, is very conducive to the rapid expansion Sterling will experience over the next 18 to 24 months. In addition, Virginia offers Sterling s employees a high quality of life, a factor that we consider important in choosing site locations, Mr. Soran noted.
``Sterling Semiconductor has enjoyed operating in Virginia for nearly four years, said Virginia Secretary of Commerce and Trade Barry E. DuVal. ``We are honored that this growing company recognizes our pro-business climate and high quality of life.
Governor Gilmore approved a $500,000 grant from the Virginia Investment Partnership program to assist Sterling with its site preparation in Loudoun County. The VIP program is designed to offer financial assistance to existing companies. The Virginia Economic Development Partnership, the Loudoun County Department of Economic Development, and the Town of Leesburg assisted the company with its decision. The Virginia Department of Business Assistance will provide workforce training services.
Contact: George J. Zulanas, Jr. Uniroyal Technology Corporation (941) 361-2220
George J. Zulanas, Jr.
Uniroyal Technology Corporation
(941) 361-2220
