-Company to expand into 41,000-square-feet of newly renovated space in the Montgomery County Technology Manufacturing Building-
| FOR IMMEDIATE RELEASE October 2, 2014 Montgomery County, Virginia Economic Development Department | |
Montgomery County, Virginia – Luna Innovations Incorporated (NASDAQ: LUNA) – a developer and manufacturer of new generation technologies and products – today announced it will be expanding its Blacksburg office in Montgomery County. The company will expand into a newly renovated 41,000-square-foot suite in the Technology Manufacturing Building. The expansion will result in $500,000 of capital investment.
“We have been a tenant since 2007 and have been very pleased to be a part of Blacksburg’s business community,” said Luna President and CEO My Chung. “The facility continues to fill our needs, and we believe that this expansion will enable us to capitalize on the growth potential of our business.”
Luna (www.lunainc.com) is a public company composed of scientists, engineers, and business professionals developing and manufacturing new generation technologies and products. It has been successful in taking innovative technologies from applied research to product development and ultimately to the commercial market, driving breakthroughs in fields such as aerospace, automotive, telecommunications, healthcare, energy, and defense.
“We are thrilled that Luna Innovations will remain in the Technology Manufacturing Building,” said Bill Brown, Chair of the Montgomery County Board of Supervisors. “Luna Innovation’s decision to grow its Blacksburg office is a true testament to Montgomery County’s tech-savvy, innovative business climate.”
Montgomery County worked with the Town of Blacksburg to support the expansion. Through a lease agreement with the Economic Development Authority (EDA) of Montgomery County, Luna Innovations will lease approximately 41,000-square-feet of newly renovated executive office, lab and manufacturing space at the Technology Manufacturing Building in Blacksburg. Built in 2001, the Technology Manufacturing Building is a 109,000-square-foot facility owned and managed by the EDA.
“I am very pleased that Luna Innovations is expanding its Blacksburg operations,” said Mayor Ron Rordam. “Luna is a tremendous business partner in our community. We welcome their expansion in the Technology Manufacturing Building and look forward to many successful years to come.”
Contacts:
Ruth Richey
Montgomery County, Va.
Phone: (540) 381-6887
E-mail: richeyrl@montgomerycountyva.gov
Dale Messick
Luna Innovations Incorporated
Phone: 1.540.769.8400
E-mail: IR@lunainc.com
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Montgomery County, Virginia - home of Virginia Tech and the towns of Blacksburg and Christiansburg - is a progressive, technology-driven community with an abundance of outdoor amenities. The Montgomery County Economic Development Department actively supports the startup, retention and expansion of companies in Montgomery County as well as the recruitment of new businesses to the community. To learn more, visit www.YesMontgomeryVA.org
The Montgomery County Department of Economic Development (MCDED) offers a number of free and confidential services and resources to help companies large and small. We welcome the opportunity to provide direct assistance to companies interested in starting, expanding or relocating a business in Montgomery County, Blacksburg and Christiansburg. Contact us today!
