Capital One Financial (COF) has chosen a site outside of Richmond, Va., as the home for its new $150 million data center.
The center, which will support Capital One's core information technology infrastructure, is expected to create at least 50 jobs, according to an announcement Wednesday from the office of Virginia Gov. Bob McDonnell.
The $300 billion-asset Capital One, of McLean, Va., chose the location in Chesterfield County over sites in Texas, the governor's office said.
To help seal the deal, the state agreed to provide funds to aid Capital One in recruiting and training workers and awarded it a $500,000 grant from the governor's opportunity fund to help with the project's development. Capital One is also eligible for tax breaks on computer equipment as a result of a 2009 law the state legislature passed to make the state more attractive for technology investments.