Natural fibers developer FyberX to establish HQ, production facility in Va.

SourceeTxtile Communications
Date Published11/08/2022
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name FyberX Holdings
Type of work Manufacturing
Reshoring category:Reshoring
Total number of jobs (added or to be added):45
Year reshoring announced:2022
Capital investment ($):17.5
City reshored to:Williamsburg,
State(s) reshored to:VA
If relevant, work nearshored to:-
Industry(ies):Apparel & Textiles, Chemicals
Product(s) reshorednatural fibers,hemp
What non-domestic negative factors made offshoring less attractive?Supply chain interruption risk/Natural disaster risk/Political instability
What domestic positive factors made reshoring more attractive?Government Incentives, Infrastructure, Raw Materials Cost, Skilled workforce availability/training
Government Incentive dollar amount:$150,000 grant Commonwealth’s Opportunity Fund
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