January 15, 1998

Jill Lawrence
(804) 371-0049
Governor Allen Announces Ericsson Expansion
-- Lynchburg Facility to Create up to 150 New High-Paying Jobs - -

Lynchburg - Governor George Allen today announced one of the final economic development deals of his administration at Ericsson in Lynchburg. The company will expand their Mobil Phones and Terminals Unit by creating up to 150 new jobs through a $30 million investment.

"Ericsson is one of our Commonwealth's valued corporate citizens and has been an important part of the foundation of our 'Silicon Dominion,'" said Governor Allen. "We appreciate Ericsson's strong vote of confidence in our people, policies and continued prosperity. Ericsson is truly a valued shareholder in our Commonwealth's future, and we look forward to being partners in their success."

Ericsson is a Swedish company and a global supplier of equipment for telecommunications systems and related terminals. More people around the world make and receive calls using Ericsson equipment than with any other equipment provider. The company produces advanced systems and products for wired and mobile telecommunications in both public and private networks, for delivery to customers in more than 130 countries. Ericsson currently employs 100,000 people.

"Ericsson is proud to be expanding its operation in Virginia to take advantage of the skilled workforce and excellent business climate in this State," said Bo Hedfors, President and CEO of Ericsson Inc.

"Ericsson is one of Lynchburg's largest employers and a true high-tech company," said Lynchburg Mayor Jim Whitaker. "We are particularly gratified that this company has selected Lynchburg to grow their exciting mobile phone and terminal business."

Governor Allen approved a grant from the Governor's Opportunity Fund worth $800,000 to assist Lynchburg with site preparation. The Governor presented a Virginia Flag and an historic share of stock in "The Virginia Company" to Ericsson as a symbol of the State's appreciation for investing in Virginia. The Virginia Economic Development Partnership, the Lynchburg Industrial Development Authority and the City of Lynchburg assisted the company with its decision. The Virginia Department of Business Assistance will provide workforce training services.

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