Virginia’s Largest Capital Investment in Modern History Comes to the City of Manassas
MANASSAS, Va.--(BUSINESS WIRE)--Aug 29, 2018--Governor Ralph Northam today announced that Micron Technology, Inc. (NASDAQ:MU), one of the world’s largest semiconductor companies, will invest $3 billion to increase memory production at its operation in the City of Manassas, creating 1,100 new jobs by 2030 in a community that has become a regional hub for technology and advanced manufacturing industries.
The City of Manassas and the Commonwealth of Virginia faced fierce competition against other U.S. states and countries like the Republic of Singapore to secure what the Virginia Economic Development Partnership estimates to be the largest private-sector capital investment in modern Virginia history. The expansion is also significant in that it marks the largest project win in terms of increased exports for the Commonwealth and strengthens Micron’s position as Virginia’s largest exporter. The City of Manassas plans to work closely with major education institutions like Northern Virginia Community College and George Mason University to ensure Micron has a continuous pipeline of qualified, technically-skilled labor.
On the heels of the recent news that Aurora Flight Sciences will invest $13.75 million in the City of Manassas, Micron’s expansion further cements the City as one of Virginia’s most highly sought after locations for technology companies. Manassas boasts:
“Micron’s expansion in the City of Manassas represents one of the largest manufacturing investments in the history of Virginia and will position the Commonwealth as a leader in unmanned systems and Internet of Things,” said Governor Northam. “This $3 billion investment will have a tremendous impact on our economy by creating 1,100 high-demand jobs, and solidifies Micron as one of the Commonwealth’s largest exporters. We thank Micron for choosing to deepen their roots in Virginia and look forward to partnering in their next chapter of major growth.”
“For almost two decades Micron and Manassas have been partners in the manufacturing of semiconductors and community development, as the City was with IBM before them. The significant benefits that the company brings Manassas by virtue of their employment and investment help us make advances in public education, infrastructure development and in maintaining a stable tax rate for all of our citizens. On behalf of our entire community I am thrilled Micron has chosen to modernize and expand operations here which will guarantee the relationship continues into the future,” said Mayor Harry J. Parrish II.
“Micron’s Manassas site manufactures our long-lifecycle products that are built using our mature process technologies, and primarily sold into the automotive, networking and industrial markets,” said Micron President and CEO Sanjay Mehrotra. “These products support a diverse set of applications such as industrial automation, drones, the IoT (Internet of Things) and in-vehicle experience applications for automotive. This business delivers strong profitability and stable, growing free cash flow. Micron is grateful for the extensive engagement of state and local officials since early this year to help bring our Manassas expansion to fruition. We are excited to increase our commitment to the community through the creation of new highly skilled jobs, expanded facilities and education initiatives.”
About the City of Manassas Department of Economic Development
The City of Manassas fosters economic development through collaborative partnerships, sustainable fiscal management and supportive City services. The Department of Economic Development (DED) is directly responsible for business attraction, retention, expansion and tourism initiatives in the City. As a resourceful and collaborative organization, we work in partnership with our key stakeholders to ensure that we have what businesses need; including a highly educated and technical workforce with access to major universities and first-class training providers. We take an active leadership role in all that we do, serving as a community builder, collaborator and agent of economic growth. For help with your business needs, please visit: https://choosemanassas.org/ or call 703.257.8881.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180829005620/en/
CONTACT: Sage Communications
On behalf of the City of Manassas DED
Jon-Michael Basile, 703.533.4859
KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA
INDUSTRY KEYWORD: TECHNOLOGY HARDWARE NETWORKS SEMICONDUCTOR MANUFACTURING AUTOMOTIVE MANUFACTURING ENGINEERING PROFESSIONAL SERVICES FINANCE HUMAN RESOURCES DEFENSE OTHER DEFENSE
SOURCE: City of Manassas Department of Economic Development
Copyright Business Wire 2018.
PUB: 08/29/2018 01:23 PM/DISC: 08/29/2018 01:23 PM