Capital One to invest more than $150 Million to establish new data center
Virginia-based Capital One Financial Corporation (NYSE: COF) will invest more than $150 million to establish a new data center in Chesterfield County. This Virginia data center is part of Capital One’s core IT infrastructure that incorporates new technologies to better meet customer needs. Capital One recently completed the acquisitions of ING Direct and HSBC’s US credit card portfolio. The project will create at least 50 new jobs. Virginia successfully competed against North Carolina and Texas for the project.
Founded and headquartered in McLean, Virginia, Capital One is the country's 6th largest bank based on deposits, and with the acquisition of ING Direct, is now the largest direct bank in the country. Capital One employs over 14,000 associates in Virginia. Capital One Bank has approximately 1,000 retail branches, including 88 in the Commonwealth.
“In today’s environment, information technology is a competitive advantage,” said Rob Alexander, Chief Information Officer of Capital One Financial Corporation. “With the new Chesterfield data center as a key element of the company’s simplified and automated infrastructure, we are proud to continue our strong relationship with Virginia and expand our workforce here.”
“Capital One is a national giant in both banking and technology,” said Chesterfield County Board of Supervisors Chairman Daniel Gecker. “The location of their state-of- the-art data center in Chesterfield County will result in a great partnership for years to come. On behalf of the Board of Supervisors, I am pleased to welcome Capital One’s new and continued investment.”
“Capital One is an outstanding company and an outstanding corporate citizen,” said Jay Stegmaier, County Administrator for Chesterfield County. “The opportunities that they provide enhance the economy, as well as our entire regional community.”
Chesterfield County and the Chesterfield Economic Development Authority worked with the Virginia Economic Development Partnership and the Greater Richmond Partnership to secure the project for Chesterfield. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company’s recruitment, training and retraining activities. “Dominion Power was a valuable ally and team member during this entire project” said Will Davis, Chesterfield County’s Director of Economic Development. “Their economic development department was critical to our success.”
Capital One was recently recognized by FORTUNE Magazine as one the 100 Best Companies to Work For, and named one of the “Top 50 Organizations for Diversity” by Diversity Business magazine. In 2011, Fortune lauded Capital One as a “Best Company for Leaders,” and Working Mother called Capital One, one of the “100 Best Companies for Working Mothers” as well as “Best Companies for Hourly Workers.”