For Virginia Business
The Capital Group Cos. has nearly completed a $12 million expansion of its American Funds customer-service center in Chesapeake. The expansion is expected to create 250 jobs and double the capital investment Capital Group has made since it came to Chesapeake in 2005.
The Capital Group is an investment management firm and home of American Funds, one of the three largest mutual-fund families in the U.S. In Hampton Roads, the firm employs nearly 800 associates in three offices. To expand operations at the Chesapeake center, the company is leasing a second building at Liberty Executive Center. The Chesapeake staff provides customer service to American Funds investors, including investors in the Virginia/American Funds CollegeAmerica program.
The Governor’s Opportunity Fund awarded Chesapeake $200,000 in funding to assist with the project The Virginia Department of Business Assistance will support the expansion with training assistance.
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