Richmond - Governor Jim Gilmore today announced that Symantec Corp. (NASDAQ: SYMC), a world leader in Internet security technology, plans to build a major product development facility in the City of Newport News. The company expects to invest $22 million in a building that will accommodate 300 full-time employees. Virginia successfully competed with a number of Symantec's other North American sites to host this facility.
"My administration is dedicated to broadening the hi-tech explosion to every corner of the Commonwealth," said Governor Gilmore. "Symantec's expansion to Newport News is a clear sign that we are making progress. I remain committed to fostering a technology-friendly atmosphere throughout Virginia and safeguarding the privacy of consumers on the Internet."
Symantec provides a broad range of content and network security solutions to individuals and enterprises. The company is a leading provider of virus protection, vulnerability assessment, intrusion prevention, Internet content and e-mail filtering, remote management technologies and security services to enterprises around the world. Symantec's Norton brand of consumer security products leads the market in worldwide retail sales and industry awards. Headquartered in Cupertino, Calif., Symantec has worldwide operations in 37 countries.
"Symantec specifically selected the Commonwealth of Virginia because it is an ideal place for high tech firms to grow and prosper. From world-class colleges and universities to a forward-looking business environment, Virginia has what it takes to help technology companies succeed," said Gary Warren, senior vice president for Symantec.
Governor Gilmore approved a $1.2 million grant from the Governor's Opportunity Fund to assist the City of Newport News with this project. The Virginia Economic Development Partnership, the Peninsula Alliance for Economic Development and the City of Newport News assisted Symantec with its decision.
"Communications and technology advancement are critical in today's economy," said Barry E. DuVal, Virginia Secretary of Commerce and Trade. "We are excited that Symantec chose to expand its presence here in the Commonwealth."