July 23, 2014
RICHMOND - Governor Terry McAuliffe announced today that Core Health & Fitness LLC, a leader in developing and marketing advanced strength and cardio equipment for the fitness industry, will invest $2 million to expand the former Med-Fit operation in Grayson County. The facility has manufactured Nautilus commercial products for more than 34 years. Virginia successfully competed against California and China for the project, which will create 250 new jobs.
Speaking about today’s announcement, Governor McAuliffe said, “The addition of Core Health & Fitness LLC to Grayson County’s corporate roster is tremendous for a region that has suffered from recent employment loss. With this investment, the company will build on the existing product line and revitalize an operation that has manufactured Nautilus commercial products for more than three decades, creating 250 new, valuable jobs. Grayson County’s history in producing commercial fitness, wellness and rehabilitation products makes it a great fit for Core Health & Fitness, and we are confident that this project will be of great economic benefit to Southwest Virginia.”
“We welcome Core Health & Fitness to Grayson County and to Virginia,” said Maurice Jones, Virginia Secretary of Commerce and Trade. “Today’s announcement of 250 jobs and a new corporate tenant for the former Med-Fit facility comes at a fortuitous time for a region that continues its economic rebound. We remain ready to do what we can to help facilitate the company’s success in Grayson County.”
Core Health & Fitness LLC is a leader in developing and marketing advanced strength and cardio equipment for the fitness industry. Headquartered in Vancouver, Washington, the company markets and distributes the legendary StairMaster StepMill,® StairMaster StairCimber®, Schwinn® indoor cycling bikes, Star Trac® strength and cardio products and Spinner® bikes worldwide.
“We are excited to be able to acquire the Nautilus commercial licensing rights and to be able to manufacture world-renowned strength products in Independence, Virginia,” said Dustin Grosz, Core Health & Fitness President and Chief Operating Officer. “The skilled workforce has consistently built some of the best, if not the best, strength fitness equipment in the world. This campus will become our major, world-wide strength manufacturing hub. We are extremely pleased with the amount of support we have received from the Town of Independence, Grayson County and State of Virginia.”
The Virginia Economic Development Partnership worked closely with Grayson County and Virginia’s aCorridor to secure the project for the Commonwealth. Governor McAuliffe approved a $350,000 grant from the Governor’s Opportunity Fund to assist Grayson County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $1.045 million in Tobacco Region Opportunity Funds for the project. Additional funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“We are elated that a world-class company such as Core Health & Fitness has chosen to carry on the storied tradition of Nautilus, and we are extremely honored to welcome them into our business community,” said John K. Brewer, Chairman, Grayson County Board of Supervisors. “This project means so much to Grayson County, and our community will forever be grateful for all the support and assistance received from Governor McAuliffe, Secretary Jones, Senator Carrico, Delegate O’Quinn, the Virginia Tobacco Commission, the Virginia Economic Development Partnership and Virginia’s aCorridor that made this deal possible.”
“I am excited about today’s announcement by Core Health & Fitness,” said Senator Bill Carrico, a member of the Virginia Tobacco Indemnification and Community Revitalization Commission and Senate District Representative. “It is an answer to many prayers by the Grayson County families affected by recent job losses and income reductions. I would like to congratulate all the county leaders who worked tirelessly to make this investment a reality. Since day one of the Med-Fit job losses, Grayson County leaders started the process of finding a solution, and today their efforts have paid off in the form of 250 quality jobs and $2 million in new capital investments. On behalf of the Virginia Tobacco Commission, we are so pleased to have played a $1 million role in this success story, which will provide much-needed opportunities to the great citizens of Grayson County for years to come.”