Magnets USA, a manufacturer of primarily magnetic and paper promotional products, will invest $1.5 million in its operation on Third Street in Vinton.
The company has already purchased state-of-the-art equipment to increase capacity, including a digital press, laser engraver, and customized enterprise resource planning system that will replace all its current processes. Other additions are slated for this year.
The company’s 70 employees will be retrained to operate the new machinery and systems with support from the Virginia Jobs Investment Program (VJIP).
“Magnets USA is an impressive entrepreneurial success story for Virginia, and I am pleased to see the company reinvesting in its Roanoke County operation,” said Gov. Ralph Northam. “To stay competitive in a 21st century economy, growing companies must upgrade processes and technologies, and ensure its employees are equipped with the most in-demand skills. We are proud to support Magnets USA and look forward to many more years of success in the Commonwealth.”
Founded by Dale Turner in 1990 in an old hatchback, Magnets USA began with very little money and a whole lot of passion. Turner traveled from Roanoke to Phoenix, stopping in almost every town along the way to pitch his magnetic business card.
Today, Magnets USA serves about 35,000 customers. Each year, the company produces millions of magnetized marketing products— including calendars, sports schedules, notepads, and car magnets— for a client base that stems largely from the real estate industry.
“Magnets USA has been a valuable contributor to the Roanoke region’s economy for over 25 years, and Virginia is proud to partner with the company in its next chapter of growth,” said Secretary of Commerce and Trade Brian Ball. “From its beginning as a one-person operation to 70 employees, Magnets USA is a strong example of what entrepreneurs can accomplish in the Commonwealth.”
“Roanoke County is a beautiful place that provides all the resources required for our business, including a stable and talented workforce, support services, and a business-friendly government,” said Turner. “We love being a part of this vibrant and progressive region where we can make a positive difference and be appreciated as well. We will continue to invest in our equipment, software, and employees to increase our productivity and efficiency, so we can continue to compete on a national level.”
The Virginia Economic Development Partnership will support Magnets USA’s job retraining through its Virginia Jobs Investment Program (VJIP). VJIP provides consultative services and funding to companies creating new jobs or experiencing technological change to support employee training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for its citizens.
Magnets USA is a 2018 graduate of VEDP’s award-winning Virginia Leaders in Export Trade (VALET) Program. VALET is an application-based, two-year international export acceleration program.
“Roanoke County is pleased to support Magnets USA’s continued growth in Roanoke County,” said Martha Hooker, chairman of the Roanoke County Board of Supervisors. “As a long-standing and innovative employer, we are thankful for their numerous contributions to our community.”
“The news of Magnets USA’s continued successes is very exciting for our community,” said Vinton Mayor Brad Grose. “We are fortunate to have quality businesses such as Magnets USA located within the community, and we sincerely appreciate their ongoing investments towards the purchase of new equipment and for the employment opportunities they provide for our area.”
Magnets USA makes significant contributions to the Town of Vinton through its sponsorship of many community activities, including festivals, concerts, and other special events. The company is also involved in community service projects throughout the region such as the Rescue Mission’s Drumstick Dash. Employees recently donated funds for, and assisted in the construction of, a Habitat for Humanity home in Roanoke City.
Magnets USA moved to Vinton in 2015.