HENRY COUNTY, Va. – Gov. Ralph Northam was in Martinsville Wednesday to announce a multi-million dollar expansion.

The Teal-Jones Group, a Canadian-based lumber company that operates Pine Products in Henry County, will invest $21 million in the operation. The sawmill expansion will create 67 new jobs with an average annual wage of more than $35,000.

Gov. Northam said the company is committing to source 100 percent of its net new timber purchases from the Commonwealth, which over the next four years is expected to top $100 million.

In operation since 1946, Teal-Jones Group is the largest privately held forest products company operating on the West Coast of Canada.

Under the performance agreement, Henry County will contribute $600,000, the Governor’s Agriculture & Forestry Industries Development Fund will add $200,000, and another $200,000 will come from the Commonwealth’s Development Opportunity Fund.