RICHMOND, Va. (WTVR) – Capital One is opening a new data center in Chesterfield County. The $150 million investment is expected to create 50 jobs, according to a press release from Virginia Governor Bob McDonnell. Governor McDonnell approved a $500,000 grant from the Governor’s Opportunity Fund to help convince the banking and credit card company to expand in Chesterfield.
“Capital One is a major corporate partner to the Commonwealth. We are pleased that the company will make this tremendous investment to enhance its IT infrastructure and establish a new data center in Chesterfield County,” the Governor said in a prepared statement.
Capital One is headquartered in McLean, Virginia. Nearly 10,000 people work at the company’s local offices making it the largest private employer in Central Virginia.
The Governor’s Office noted Capital One is eligible for a sales tax exemption on certain data center computer equipment. The sales tax exemption is the result of a General Assembly bill passed in 2009.