Dec 15, 2008
Governor Kaine Announces 318 New Jobs for Newport News
On December 15, 2008, Virginia Governor Tim Kaine announced that Continental AG, the fourth largest automotive supplier worldwide, will move its South Carolina manufacturing operations to its Newport News, Virginia facility. The company will invest $194 million over the next three years and will create 318 new jobs in addition to saving 576 jobs that could have been relocated.
Chris Lloyd and Susan Liberty led the economic development incentives negotiations that resulted in a $3 million grant from the Governor's Opportunity Fund, as well as $3 million in performance-based grants from the Virginia Investment Partnership program, Virginia Enterprise Zone program benefits, and Virginia Jobs Investment Program assistance.