March 20, 2000

Lila White
(804) 692-3110

Jill Lawrence
(804) 371-0049
Governor Gilmore Announces 1999 Economic Development Results
-- Virginia scores second best year ever for new job announcements --

Richmond - Governor Jim Gilmore today announced that Virginia's economic development efforts secured 45,808 announced new jobs in 1999. These new jobs will be created over the next 30 months through new corporate locations and expansions by existing industry. The Commonwealth also announced $3.2 billion in new capital investment. These results compare favorably to past years as 1999 ranks as the second best year ever in terms of new employment announcements (behind 1998) and the third best year for announced investment (behind 1995 and 1996 respectively).

"Virginia continues to be one of the top job-producing states in the nation," Governor Gilmore said. "Our performance results from innovation in technology, continued growth by our existing businesses, and a steadfast commitment by this Administration to strengthening Virginia's business and job climate. In addition, our strategic plan for economic development has helped us maintain this record-breaking momentum."

Governor Gilmore also announced that Site Selection, a widely read economic development trade magazine, has again ranked Virginia among the top 10 states in 1999 economic development announcements. The magazine has tallied this annual industry benchmark for more than 25 years. In addition, Virginia ranked number two in new jobs created per one million population and placed eighth among states for landing the most new manufacturing facilities in 1999.

"Under Governor Gilmore's leadership, Virginia has enjoyed its best two years for announced job creation," said Secretary of Commerce and Trade Barry E. DuVal. "This recognition from Site Selection magazine confirms that Virginia is a national leader in economic development."

Major highlights of 1999 announcements include:

America Online announced 675 jobs and a $550 million investment for a data center in Prince William County and an expansion of its Loudoun County headquarters.

Central Virginia again the choice of Capital One as the credit card company announced over 2,000 jobs in Henrico County and over 1,700 jobs for Spotsylvania County.

Tempur-Pedic, a manufacturer of special mattresses, pillows, and seat cushions, will create 265 jobs in Southwest Virginia's Scott County through a $14 million investment.

In Washington County, Bristol Compressors will create 350 new manufacturing jobs. Utility Trailer announced the creation of 300 more manufacturing jobs in that county.

Innotech, a manufacturer of optical lenses, announced an investment of $125 million and the creation of 586 new jobs in the City of Roanoke.

Nextel announced 700 jobs in the City of Hampton for a new customer support center while Gateway announced an expansion of its Hampton computer manufacturing facility that would create 1,200 new jobs.

John Deere located its first facility in Virginia by selecting James City County for a $30 million research, development and manufacturing operation employing 300 people.

Energy Recovery, Inc. chose the Cape Charles Sustainable Technology Park in for its manufacturing and research and development operations. The company plans to hire 50 employees through a $2.5 million investment in Northampton County. Governor Gilmore presented the first Governor's Opportunity Fund to an Eastern Shore community to assist with the project.

HP Hood, a nationally recognized dairy manufacturer, announced plans to construct a beverage processing facility in Frederick County investing $70 million and hiring more than 170 employees.

Stanley Furniture Company and American of Martinsville will expand their manufacturing facilities in Henry County creating a total of 500 new jobs.
The Virginia Economic Development Partnership monitors economic development activity in Virginia through a capital investment and employment database. The Partnership was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth.



© 2018 All rights reserved.