BizSense first reported in August that Capital One had bought two office buildings previously occupied by Wachovia Securities. Gov. Bob McDonnell formally announced the company’s plans Tuesday.
“The company employs approximately 9,400 individuals in Virginia, and this expansion is one of the Commonwealth’s largest private sector job growth announcements this year,” McDonnell said in a statement.
The company will also add 300 additional jobs in Virginia through the end of 2011.
Based in McLean, Capital One has approximately 1,000 retail branches, including 88 in Virginia.
Capital One also considered Florida and Texas for the expansion. McDonnell approved a $300,000 grant for Capital One to help seal the deal.
“Virginia is Capital One’s headquarters, and has been a great foundation for our company growth for more than two decades,” said Richard D. Fairbank, chairman and CEO of Capital One, in a statement.
“The strength and resilience of Capital One’s business model served us well during the recession and we are well-positioned as we emerge on the other side. As always, we will continue to focus on providing exceptional products and service to our customers in Virginia and across the nation, and we are proud to expand our presence in Virginia where it all began.”