NORFOLK, Va. (WAVY) — Virginia Gov. Terry McAuliffe has announced that ADP will be investing $32.5 million to create 1,800 “high-paying” jobs in the City of Norfolk.
McAuliffe made the announcement at the Bank of America Building in downtown Norfolk. Attending the announcement was Norfolk Mayor Paul Fraim and members of City Council.
Speaking on Tuesday, Fraim called the decision to bring ADP to Norfolk the largest economic development announcement for the area in this generation.
McAuliffe says the state will be awarding $5 million in funding for the project to Norfolk, along with an additional $1.8 million which will go toward employees.
ADP is expected to provide jobs in the fields of client support and implementation, finance and information technology support — with average annual salaries ranging from $25,000 to $60,000 and higher.
“This is a big announcement for the country to have ADP do this so it’s great for Norfolk and its great for Virginia and once you make these announcements it really helps you bring in other businesses,” said McAuliffe. “Success begets success.”
No representative from ADP was available to attend Tuesday’s announcement. However, the company released a statement saying they picked Norfolk “because of the thriving community.”
Fraim noted Tuesday that the city is expecting major economic returns on ADP’s investment.
“Once all of the ADP jobs are in place, Hampton Roads can expect annual regional earnings of approximately $158 million, and overall economic impact that is calculated to reach nearly $465 million,” Fraim said.
The city of Norfolk released a video on its Facebook page about the announcement Tuesday morning:
John Padgett with the Hampton Roads Economic Development Alliance says young professionals are attracted to the city of Norfolk.
“The millennials like the urban area and we have light rail. You can also walk around the city,” said Padgett. “They really value the relationship with the military.”
Mayor Fraim says this will create a domino effect in downtown Norfolk.
“These folks will be buying things down here, going to meals down here,” said Fraim. “It’s the biggest economic deal on my 30 years as city council and to have this come here in my last three months is pretty gratifying.”
McAuliffe says projects like these will bring more opportunity in the years to come.
“Once you have a project like this, it really helps you bring in other businesses. We are in the middle of negotiating some major projects,” said McAuliffe.