SOUTH BOSTON, Va. (WRIC) — Governor Glenn Youngkin announced Tuesday that a proposed $82 million titanium recycling plant would receive over $870,000 in state assistance as the commonwealth moves to promote industrial development in southside.

The project would see North Carolina-based IperionX, a titanium manufacturer, open an $82 million facility just outside of South Boston, the largest town in rural Halifax County.

According to a press release from the governor’s office, sustainability is a major goal of the project, with IperionX claiming they’ll make use of “100% renewable energy to produce 100% recycled titanium.”

“We look forward to supporting this forward-thinking company that will develop a new supply chain of titanium right here in the Commonwealth while creating high-quality jobs,” Youngkin said.

The company will get $873,000 in two initial grants ahead of their $12.5 million investment in the first phase of the facility, which will be a “demonstration facility” aimed at proving the concept. Within three years, according to the governor, the company will be expected to follow that with a $69.6 million expansion to reach their full production capacity.

The first $300,000 will come directly from the Virginia Economic Development Partnership, which sets requirements for hiring, wages and investment on the part of the company in exchange for financial support. You can view a report on completed projects that also used the Commonwealth Opportunity Fund here.

The remaining $573,000 will come from the Tobacco Region Revitalization Commission, a state-supported agency that supports business in southside and southwest Virginia that in the past relied heavily on tobacco production, but have economically declined in the past few decades.

The project is expected to create at least 108 new jobs by the time the second phase in completed, and the governor noted that the company would be eligible for additional support from other state agencies. That includes hiring assistance from the Virginia Jobs Investment Program, which Youngkin indicated the company had already qualified for.