NEWPORT NEWS, Va. (WAVY) – Canon Virginia Inc. officials announced Wednesday they will spend $100 million to expand manufacturing operations in Newport News, increasing the initial planned investment by almost $25 million.
Canon will be adding more printer cartridge production lines and increasing its toner manufacturing and filling. The Commonwealth will provide a $3 million performance-based grant to Canon, according to a press release from Gov. Terry McAuliffe’s office.
“This high-tech, new equipment requires intensive higher scale training, and will provide workers with skills of the 21st century that are essential as we build a new Virginia economy,” McAuliffe said in a statement.
The governor had first announced Canon would spend $78 million to expand. But at a press conference in Newport News on Wednesday, the company’s representatives told McAuliffe and the media the new number.
The Virginia Economic Development Partnership worked with the city to secure the investment. McAuliffe met with canon in Tokyo to discuss the project.
Funding and services to support the company’s employee retraining activities will be provided through the Virginia Jobs Investment Program.