Richmond - Governor Mark R. Warner today welcomed the expansion of Dominion in the City of Richmond. Through a $28.5 million investment, the company built the “Dominion Energy Clearinghouse,” a new 60,000-square-foot center that will employ 350 people and house the company’s natural gas and electric power marketing division. The project brings 110 new jobs to Virginia. Operations began on May 19, 2003 after an 18-month construction period.
“Dominion is an outstanding corporate citizen and valued partner,” said Governor Warner. “I am pleased to see the company make this investment in Richmond’s downtown.”
Dominion (NYSE: D) is one of the nation's largest producers of energy, with a portfolio consisting of 24,000 megawatts of generation, 6.1 trillion cubic feet equivalent of natural gas reserves, 7,900 miles of natural gas transmission pipeline and more than 960 billion cubic feet of storage capacity. Dominion also serves 5 million natural gas and electric customers in nine states. In addition, Dominion owns a managing equity interest in Dominion Fiber Ventures LLC, owner of Dominion Telecom. Additional information about Dominion is available on the Internet at www.dom.com.
“We make an important statement about our confidence in the city’s future with the completion of this project,” said Thos. E. Capps, Dominion Chairman and Chief Executive Officer. “Economically, we are pleased to help Richmond regain its rightful place among the East Coast’s major metropolitan regions. This is good for Dominion, for the city, for the riverfront and for the state.”
The Virginia Economic Development Partnership, the Greater Richmond Partnership and the City of Richmond Department of Economic Development assisted Dominion with its decision to expand. Dominion qualifies for a Major Business Facility Job Tax Credit, a statutory incentive available to all qualifying companies. The company is also eligible for tax credits based on its location in an enterprise zone.