ROANOKE TIMES
Copyright (c) 1995, Roanoke Times
DATE: Saturday, December 9, 1995 TAG: 9512100018
SECTION: BUSINESS PAGE: A-6 EDITION: METRO
SOURCE: MEGAN SCHNABEL STAFF WRITER
Nationwide Homes of Martinsville on Friday announced plans to expand its manufacturing facilities, a move that it says will permit production increases of 50 percent by the middle of next year and prompt hiring.
The company, which manufactures modular homes and commercial structures, will erect a 66,000-square-foot plant next to its existing factories and office space, which occupy 26 acres off U.S. 220.
Construction of the $2 million plant will begin in late December and will be completed by June. After the new plant is completed, Nationwide will begin renovating its existing facilities. Costs for that project, scheduled to be completed by late 1996 or early 1997, haven't been released.
The company has been planning an expansion for some time, said Fred Betz, the company's chief executive officer.
"Our business has been extremely good," he said. "But we wanted to have a better feel for what the housing industry was doing." The modular housing industry has grown tremendously over recent years, he said, thanks in part to a shortage of skilled labor in the construction business. Modular homes, because they require fewer subcontractors than site-built homes, are becoming more attractive to builders, he said.
The expansion follows three years of record sales for Nationwide. Sales this year are expected to be in excess of $36 million, Betz said. Last year 's sales totaled $33 million.
Nationwide currently employs about 370 people and plans to hire an additional 50 employees in 1996.
The recent designation of Henry County and Martinsville as a joint enterprise zone contributed to Nationwide's decision to build its new plant in Martinsville, Betz said. The company had considered building in another area if the zone not been approved, he said.
"We're just plumb pleased and proud," said Earl Reynolds Jr., Martinsville city manager. "We're hoping that's just the first in a long line of companies that see being part of the enterprise zone as the incentive to pull the trigger on expansion."
Both Henry County and the city of Martinsville have agreed to lower some taxes and fees for qualifying businesses that locate or expand in the enterprise zone. Such businesses also may be eligible for training grants.
Nationwide Homes, a privately owned company, was founded in 1959 and markets in 11 Southern and Mid-Atlantic states. In addition to single-family homes, the company also produces multi-family and small commercial buildings.
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