RICHMOND - Governor Timothy M. Kaine today announced that the Capital Group Companies will invest $12 million to expand its American Funds customer service center in Chesapeake, creating 250 new jobs. The Capital Group is one of the largest investment management firms in the world, managing investments for mutual fund investors, institutions and high net-worth individuals. The Chesapeake center provides customer service to American Funds investors, including investors in the Virginia/American Funds CollegeAmerica program.
RICHMOND - Governor Timothy M. Kaine today announced that H2Gen Innovations, Inc., a designer and manufacturer of hydrogen generators and gas purification plants, will expand its production capacity in Alexandria to meet robust new sales orders. The project will create 50 new jobs.
“H2Gen Innovations is an impressive Virginia company that is on the cutting edge of alternative energy production,” said Governor Kaine. “Our nation’s energy concerns remain on the forefront, and supporting the development of technology for the emerging hydrogen economy is key.”
RICHMOND - The Virginia Economic Development Partnership (VEDP) today announced the acceptance of five new companies into the Accessing International Markets (AIM) export development program. The program, launched by VEDP in December 2005, introduces companies across Virginia to new global business opportunities. Based on a competitive quarterly application process, 20 companies will be accepted into the AIM program each year.
RICHMOND - Governor Timothy M. Kaine today announced that Alderman Railcar Services, Inc. will invest $3.5 million to open a repair and fabrication shop for the railcar industry in Charlotte County Industrial Park in Keysville. The project will create 110 new jobs paying an average annual salary of $30,000.
“It is great news that Alderman Railcar Services is making this investment and creating jobs in Charlotte County,” Governor Kaine said. “The company offers above-average salaries with benefits, and will serve an important role in the Southside economy.”
RICHMOND - Governor Timothy M. Kaine today launched the Virginia International Trade Alliance (VITAL), a coalition comprised of companies across the Commonwealth dedicated to the advancement of international trade and investment. Governor Kaine announced the creation of VITAL during a meeting of its founding participants this morning at the SunTrust Building in Richmond. The Virginia Economic Development Partnership (VEDP) and the Virginia Port Authority (VPA) will support VITAL’s efforts by providing structure and staff assistance.
RICHMOND - Governor Timothy M. Kaine today announced that Gates Corporation, the largest non-tire rubber manufacturer of automotive and industrial products, systems and components in North America, will invest approximately $8 million to open its first Virginia facility in the Highlands Business Park, an industrial park jointly developed by Smyth and Washington counties. The company intends to create 172 new jobs. Virginia successfully competed with Tennessee for the project.
RICHMOND - Governor Timothy M. Kaine today announced that Merck & Co., Inc. will invest an additional $193 million to expand its Elkton facility, further enhancing production capabilities for the pharmaceutical company’s medicines and vaccines. The project is expected to create 70 new jobs at the facility. Last December, Merck announced a $57 million expansion at the Elkton facility, which was established in 1941.
RICHMOND - Governor Timothy M. Kaine today announced that American Wood Fibers (AWF), a leader in the field of specialty forestry products, will invest $9 million to expand its operations in Smyth County. The project will create 30 new jobs and save 30 existing jobs. Virginia successfully competed with Kentucky, North Carolina, and Ohio for the project.
RICHMOND - Governor Timothy M. Kaine announced today that Bostwick Laboratories™, a medical laboratory providing services to physicians, patients and managed care organizations, will invest $4.6 million to expand its Henrico County headquarters facility. The expansion will create 600 new jobs over the next three years.
RICHMOND - Governor Timothy M. Kaine today announced that Virginia again led the nation in Forbes.com’s “Best States for Business” ranking. In its second year, the review examines multiple objective measurements, including business cost, regulatory climate, quality of the workforce, and economic growth. Forbes.com is the official Internet site of the Forbes family of business publications.