The news in Newport News
- April 27, 2009
Canon Virginia Inc. is investing more than $600 million to expand its manufacturing capacity in and around the city, building a plant to produce toner cartridges for laser printers and hiring more than 1,000 new employees.
Northrop Grumman Shipbuilding is partnering with Areva NP on a joint venture that will invest $363.4 million to build equipment for the nuclear-power industry and provide nuclear engineering services. The new company, Areva Newport News LLC, will create 540 new production and engineering jobs.
Continental AG, a maker of automotive fuel injection systems, will spend $363 million in an expansion that will create 318 new jobs.
Fort Eustis plans $195 million in construction spending as part of the Army base’s expansion.
The Thomas Jefferson National Accelerator Facility, a federal nuclear physics lab, is starting this year on a $400 million upgrade.
Northrop Grumman Shipbuilding has been awarded a multi-billion-dollar contract to build eight nuclear-powered submarines between 2011 and 2019. The shipyard’s part of the $14 billion contract, shared with Connecticut’s General Dynamics Electric Boat, will be $5.7 billion. The contract could create 1,000 jobs, but officials say there’s a chance many of them could be transfers from other parts of the shipyard’s existing work force of nearly 20,000.
Training for the new workers at local community colleges and elsewhere will be financed by state programs with more than $140 million in incentives connected to the corporate expansions.