General Electric Co. announced plans Wednesday to open an information security center in Innsbrook that will eventually employ 200 information technology professionals.
The GE Information Security Center, which will be at 5640 Cox Road, will be the first of its kind for the company, said spokesperson Deia Campanelli. LandAmerica occupied the building until that company went bankrupt in 2008 and closed in 2009.
“This is the first time we have created a facility specifically focused on cyber security,” Campanelli said.
The New York-based energy, technology and financial services company has begun with more than 30 job listings posted for the center. Campanelli said the center would open during the third quarter.
Virginia beat out Michigan and Massachusetts to land GE.
The Virginia Economic Development Partnership will provide GE with an incentive of $300,000 over 36 months for job training and recruitment, according to VEDP spokesperson Suzanne West. The funding comes from the Virginia Jobs Investment Program and is based on the number of employees the company is planning to hire.
Greg Wingfield, president and CEO of the Greater Richmond Partnership, said that General Electric was moving on an aggressive schedule.
“For a deal of this size, they were in a hurry, and they kept to their timeline,” Wingfield said.
Wingfield said the state economic development department reached out to the partnership to start talks with GE back in January.
The partnership coordinated a visit with GE representatives in February including the governor’s economic adviser, Bob Sledd. GE reps had closed-door sessions with people from Dominion, the Federal Reserve and Capital One to discuss the local talent available in the IT security field, Wingfield said. GE also met with officials from the VCU School of Business and the School of Engineering.
Wingfield said those talks were a major factor in winning the project for the Richmond area.
“I think it was the candid conversations they were able to have with area businesses in the same space and see they are not threatened with there not being enough talent. There is enough talent,” Wingfield said.
The announcement follows news that Capital One is taking back a large amount of space in Innsbrook and that Snagajob.com is moving to a bigger building. The vacancy rate for the area for the first quarter stood at 23.1 percent, according to Jones Lang LaSalle. That will likely go down dramatically once new figures take into account the rush of activity.
Wingfield said the GE announcement is one of the most significant deals for the area in recent years.
“I would put it near the top, mainly because it’s a Fortune 50 company that has selected Greater Richmond for a new endeavor,” Wingfield said.
General Electric Co. announced plans Wednesday to open an information security center in Innsbrook that will eventually employ 200 information technology professionals.
The GE Information Security Center, which will be at 5640 Cox Road, will be the first of its kind for the company, said spokesperson Deia Campanelli. LandAmerica occupied the building until that company went bankrupt in 2008 and closed in 2009.
“This is the first time we have created a facility specifically focused on cyber security,” Campanelli said.
The New York-based energy, technology and financial services company has begun with more than 30 job listings posted for the center. Campanelli said the center would open during the third quarter.
Virginia beat out Michigan and Massachusetts to land GE.
The Virginia Economic Development Partnership will provide GE with an incentive of $300,000 over 36 months for job training and recruitment, according to VEDP spokesperson Suzanne West. The funding comes from the Virginia Jobs Investment Program and is based on the number of employees the company is planning to hire.
Greg Wingfield, president and CEO of the Greater Richmond Partnership, said that General Electric was moving on an aggressive schedule.
“For a deal of this size, they were in a hurry, and they kept to their timeline,” Wingfield said.
Wingfield said the state economic development department reached out to the partnership to start talks with GE back in January.
The partnership coordinated a visit with GE representatives in February including the governor’s economic adviser, Bob Sledd. GE reps had closed-door sessions with people from Dominion, the Federal Reserve and Capital One to discuss the local talent available in the IT security field, Wingfield said. GE also met with officials from the VCU School of Business and the School of Engineering.
Wingfield said those talks were a major factor in winning the project for the Richmond area.
“I think it was the candid conversations they were able to have with area businesses in the same space and see they are not threatened with there not being enough talent. There is enough talent,” Wingfield said.
The announcement follows news that Capital One is taking back a large amount of space in Innsbrook and that Snagajob.com is moving to a bigger building. The vacancy rate for the area for the first quarter stood at 23.1 percent, according to Jones Lang LaSalle. That will likely go down dramatically once new figures take into account the rush of activity.
Wingfield said the GE announcement is one of the most significant deals for the area in recent years.
“I would put it near the top, mainly because it’s a Fortune 50 company that has selected Greater Richmond for a new endeavor,” Wingfield said.
Why would GE need ANY incentive when don’t pay taxes????????
If you think GE doesn’t pay taxes then you clearly don’t understand accounting. Look at their 10-K. Just because you record a tax benefit on the books doesn’t mean you have no tax bill. You can derive a net “benefit” due to deferred tax assets/liabilities. Not to mention, the tax “benefit” isn’t even recorded on the asset side of GE’s balance sheet, its not like they received a payment from the government. Due to the absurd corporate tax laws in this country EVERY major corporation engages in this type of tax minimization. GE’s tax department just happens to be the… Read more »