Wrap Technologies Relocates to Southwest Virginia, Expanding in Manufacturing, Defense, and Public Safety Tech Products, Creating 126 New Jobs

RICHMOND, VA - Governor Glenn Youngkin today announced the relocation of Wrap Technologies (Nasdaq: WRAP) to Southwest Virginia, marking a significant expansion of the company's commitment to defense and public safety technology. The new manufacturing and distribution facility at Project Intersection in Norton will result in 126 new jobs, contributing to the acceleration of the region's growing tech corridors.

"As Wrap Technologies brings its operations to Virginia and creates more than 100 jobs, we are reaffirming the Commonwealth's leadership in technology and innovation," said Governor Glenn Youngkin. "This expansion further accelerates our efforts to develop key technology hubs in the region."

The new 20,000-square-foot facility in Norton's Project Intersection will serve as the central hub for Wrap's manufacturing and distribution operations. This expansion will support the development of next-generation tech products, including Wrap's innovative AI and VR training platforms, integrated body camera systems, and planned advanced drone technologies designed for safer and more efficient law enforcement practices.

"Virginia continues to be a prime location for leading technology companies," said Secretary of Commerce and Trade Caren Merrick. "Wrap Technologies' investment will not only advance our public safety infrastructure but also contribute to economic development and high-tech job creation in Southwest Virginia."

"Our move to Virginia allows us to work closely with our already established base, focus on our Made in America tech strategy, and begin implementing our plans to deliver an integrated solution to our customers across the state," said Wrap Technologies Founder and CEO Scot Cohen.

"This is a tremendous victory in the region's quest to expand our manufacturing base and create good-paying jobs," said Senator Todd Pillion. "We are excited to welcome Wrap Technologies to Norton and appreciate their shared commitment to making Southwest Virginia the best place to live, work, and raise a family."

"Wrap Technologies opening its doors in Southwest Virginia is just the latest example of how our region is accelerating," said Delegate Terry G. Kilgore. "Wrap's investment in Southwest Virginia shows that our region is capable of leading in the modern technological workforce. Funding from the Virginia Tobacco Region Revitalization Commission helped make this project a reality. The Commission is always looking to bring businesses like Wrap Technologies to our region that will provide jobs and new capital, while also helping revitalize and diversify the local economy. This further proves that our region is just as competitive as anywhere in the United States to open your doors for business."

"We are thrilled to have Wrap Technologies moving to Southwest Virginia," said Lonesome Pine RIFA Chairman Joseph Fawbush. "This is not just an investment in business but an investment in the people, community, and future of this region. This is another example of how the Lonesome Pine Regional Industrial Facilities Authority's model of working together as a region helps make a rural area competitive in the recruitment of world-class companies like Wrap Technologies."

"On behalf of the Virginia Coalfield Economic Development Authority, I would like to congratulate Wrap Technologies on selecting Norton, Virginia, for its next manufacturing location," said VCEDA Executive Director Jonathan Belcher. "This project is a testament to the hard work of the LENOWISCO Planning District Commission, the Lonesome Pine Regional Industrial Facilities Authority, the region's legislators, the Commonwealth, and the company. VCEDA was glad to assist by approving a $3,160,000 loan to the Norton Industrial Development

Authority to assist with the construction of the new facility for this project at the Intersection development in Norton. This project is an excellent example of regional cooperation at its best, and of what is possible in the business-friendly environment of Southwest Virginia."

The Virginia Economic Development Partnership worked with the Lonesome Pine Regional Industrial Facilities Authority, the LENOWISCO Planning District Commission, InvestSWVA the Virginia Coalfield Economic Development Authority, and the Virginia Tobacco Region Revitalization Commission to secure the $4.1 million project for Virginia. Governor Youngkin approved a $425,000 grant from the Commonwealth's Opportunity Fund to assist with the project. Funding and services to support the company's employee training activities will be provided through the Virginia Jobs Investment Program. The Virginia Tobacco Region Revitalization Commission awarded an $800,000 grant through its Southwest Economic Development program to assist with this project.