The Pittsylvania County Industrial Development Authority (IDA) announced the approval of a lease to purchase agreement with KTL Restorations Inc.
Under the terms of the agreement, KTL Restorations will lease the IDA-owned building at 2311 Cane Creek Parkway in the Ringgold East Industrial Park. The agreement gives KTL Restorations the right to purchase the building, and that is expected to occur in 2027. The agreement provides KTL Restorations the flexibility to expand its business, representing a $3 million investment and 30 jobs in Pittsylvania County.
“The IDA loves investing in local businesses and local citizens. This project is unique in that it assists a nationally recognized company with its plans to expand here in Pittsylvania County, bringing jobs, revenue, and recognition to Southside Virginia. It also highlights KTL Restorations’ commitment to remaining in the County into the future. The IDA would also like to thank the Longwood University Small Business Development Center and local Director Michael Duncan for their support of this project,” said Pittsylvania County IDA Chairman Joey Faucette.
KTL Restorations specializes in classic car repair restoration and customization, from fabrication and structural repair, show-quality refinish, and the latest aftermarket upgrades.
As a high-end restorer of classic cars, KTL Restorations offers educational and employment opportunities that complement existing workforce development programs in the region, to include the first work-based learning program by a custom car builder in the U.S, in partnership with the Pittsylvania County Career and Technical Center (PCTC).
“With a client base that extends beyond the U.S., we feel that the expansion is going to only further the partnership, client base, and highly skilled trade jobs to our area. Across the U.S., there are only a handful of highly reputable restoration and custom shops – many do vintage work – but not to the “car boutique” level, as we do. We opened our “Vintage Quick Lane” only one year ago, and the response has been overwhelming with cars coming from many states to receive the new services KTL is offering. The building expansion opens up more job opportunities, revenue growth, and preservation of classics,” said KTL Restorations co-owners, Kurt and Crystal Lawrance.
KTL Restorations plans to begin work on the 12,000 square foot building in early 2024 and is expected to begin operations at the Ringgold location by mid-year.
“The Pittsylvania County Board of Supervisors applauds the IDA for its hard work in helping a local business remain and grow in the County, and it thanks KTL Restorations for choosing the County for its expansion. This will not only create new jobs and opportunities for our citizens, but it also contributes to the economic growth in the County and beyond,” said Pittsylvania County Board of Supervisors Chairman Darrell Dalton.
KTL Restorations is an active member of the community and its advocate, providing yearly donations to Pittsylvania County Schools, fire and rescue agencies, law enforcement and more. KTL Restorations brings a wide variety of industry specialists to Southside, including business owners, CEO’s and various industries leaders, as it is ambassadors and partners with more than 70 companies across the U.S. During those visits, the company highlights the region and exposes them to the growth within the local community.
KTL Restorations has been in business in Pittsylvania County since 2002 and is temporarily located at 239 Mayfield Road. The company got its start in Long Island, New York, where KTL Founder Tom Lawrance took his love of Mercury Cougars, and working in his two-car garage, pursued his dream of rebuilding these classic automobiles. Tom Lawrance passed away in 2014, and his son, Kurt, has carried on the vision his father began, rebranding and rebuilding KTL Restorations into a nationally recognized facility.
Its work has been featured in publications like the Legendary Cougar Magazine and its 1970 Mercury Cougar Eliminator, the “Lethal Cat,” was the 2019 Muscle Car of the Year.
“We preserve history. We bring back the memories and the dreams of the vehicle you rode in as a kid, or the one that has been passed down through three generations. We build the car that someone only dreamed of as a young adult. Each client is given ample attention to detail and becomes what we term the “KTL family” as we carry their treasures across the country to showcase,” said Kurt and Crystal Lawrance.