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By Carten Cordell Watchdog.org Virginia Bureau
ALEXANDRIA—Gov. Bob McDonnell announced Wednesday that Capital One Financial Corp. will invest $150 million to set up a new data center in Chesterfield County.
The center is expected create 50 new jobs and expand Capital One’s information technology infrastructure. Virginia was in competition with Texas for the data center.
McDonnell said the McLean-based Capital One is an important partner in state’s role as a pro-business job producer.
“As our (ninth) largest private sector employer, Capital One is a major corporate partner to the Commonwealth,” McDonnell said in a statement. “We are pleased that the company will make this tremendous investment to enhance its IT infrastructure and establish a new data center in Chesterfield County.”
McDonnell awarded a $500,000 grant from the Governor’s Opportunity Fund, an incentive fund used to court business expansion in the state, to Capital One to assist with the data center. Capital One also may be eligible for further funding and tax breaks from the Virginia Jobs Investment Program, a program that assists companies in recruitment and training for new jobs and is operated by the Virginia Department of Business Assistance.
