Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, April 13, 1994 TAG: 9404130102
SECTION: CURRENT PAGE: NRV-3 EDITION: NEW RIVER VALLEY
SOURCE: By STEPHEN FOSTER STAFF WRITER
DATELINE: LENGTH: Medium
Kent Murphy, president of the 12-employee, 2-year-old company, said he wants to expand. In the past two years, the company has grown from a basement operation to renting a building near the Market Place to, now, thoughts of its own building.
Murphy said the company will hire approximately 10 people in the near future, and after it sets up shop at the Blacksburg Industrial Park, will bump employment to 30 or 40.
Town Council was to vote Tuesday night on whether to set a public hearing for a contract that would authorize the sale of 3.4 acres to Fiber and Sensor Technologies for $29,750. The vote was placed on the council's consent agenda, which normally passes with little debate.
If the land sale goes through - Murphy said he hopes to close the deal within six weeks - the company would build a plant costing $350,000-$500,000 within the next year and a half.
The company manufactures fiber-optic sensors for use in aircraft, nuclear reactors, and highways.
"We hope to be a part of the smart road too," he said, referring to an attempt by Virginia Tech, the state and General Motors to win $145 million in federal money for smart car research. If the GM-led consortium wins the money, it could open up avenues for businesses to play a part in the futuristic research.
For now though, Murphy, who got his start in fiber-optics working as a janitor at ITT in Roanoke, is eyeing a bigger place for his company.
"Things are changing so rapidly for us," Murphy said.
by CNB