Capital One Investing $150M+ in Chesterfield Data Center

Virginia-based Capital One Financial Corporation (NYSE: COF) will invest more than $150 million to establish a new data center in Chesterfield County. This Virginia data center is part of Capital One’s core IT infrastructure that incorporates new technologies to better meet customer needs. Capital One recently completed the acquisitions of ING Direct and HSBC’s US credit card portfolio. The project will create at least 50 new jobs.  Virginia successfully competed against North Carolina and Texas for the project.

Speaking about today’s announcement, Governor McDonnell said, “Virginia has been home to Capital One for more than two decades, and the company continues to grow its foundation. As our 9th largest private sector employer, Capital One is a major corporate partner to the Commonwealth. We are proud that the company will make this tremendous investment to enhance its IT infrastructure and establish a new data center in Chesterfield County.

“Cutting-edge information technology is now a priority for all companies in the domestic and global marketplace,” said Jim Cheng, Virginia Secretary of Commerce and Trade. “Capital One’s new data center in Chesterfield County will give the company a competitive edge as it continues to expand. Winning this project was a priority, and we are thrilled to gain an investment of this magnitude and 50 new jobs.”

“This project is another great example of how the IT industry helps fuel Virginia's economic engine, and we warmly welcome Capital One to Chesterfield County," said Jim Duffey, Virginia Secretary of Technology.

Founded and headquartered in McLean, Virginia, Capital One is the country's 6th largest bank based on deposits, and with the acquisition of ING Direct, is now the largest direct bank in the country. Capital One employs over 14,000 associates in Virginia. Capital One Bank has approximately 1,000 retail branches, including 88 in the Commonwealth.

“In today’s environment, information technology is a competitive advantage,” said Rob Alexander, Chief Information Officer of Capital One Financial Corporation. “With the new Chesterfield data center as a key element of the company’s simplified and automated infrastructure, we are proud to continue our strong relationship with Virginia and expand our workforce here.”

“Capital One is a national giant in both banking and technology,” said Chesterfield County Board of Supervisors Chairman Daniel Gecker. “The location of their state-of- the-art data center in Chesterfield County will result in a great partnership for years to come. On behalf of the Board of Supervisors, I am pleased to welcome Capital One’s new and continued investment.”

"Capital One is an outstanding company and an outstanding corporate citizen,” said Jay Stegmaier, County Administrator for Chesterfield County. “The opportunities that they provide enhance the economy as well as our entire regional community."

Chesterfield County and the Chesterfield Economic Development Authority worked with the Virginia Economic Development Partnership and the Greater Richmond Partnership to secure the project for Chesterfield. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company’s recruitment, training and retraining activities.  “Dominion Power was a valuable ally and team member during this entire project” said Will Davis, Chesterfield County’s Director of Economic Development. “Their economic development department was critical to our success.”

Congressman Randy Forbes (R-VA) added, “I am excited Capital One has chosen to expand its operations in the Fourth Congressional district and bring more jobs to the people of Virginia. Capital One is the largest bank headquartered in Virginia and we are proud they are making this information technology investment domestically at home in the Commonwealth.”

Capital One was recently recognized by FORTUNE Magazine as one the 100 Best Companies to Work For, and named one of the “Top 50 Organizations for Diversity” by Diversity Business magazine. In 2011, Fortune lauded Capital One as a “Best Company for Leaders,” and Working Mother called Capital One, one of the “100 Best Companies for Working Mothers” as well as “Best Companies for Hourly Workers.”

Contact:
Julie Rakes, Capital One,  (804) 284-5800,  julie.rakes@capitalone.com
Garrett Hart, Chesterfield Economic Development (804) 318-8550, ghart@chesterfieldbusiness.com

Sabra Expanding And Opening R&D Facility In Chesterfield County

Sabra Dipping Company Will Open A Global “Center Of Excellence” And R&D Facility In Chesterfield County

Sabra Will Also Expand Existing Virginia Manufacturing Facility To Significantly Increase Capacity

Sabra Dipping Company announced two major initiatives to further its growth and leadership in the dips and spreads category today. The company will construct a "Center of Excellence" research and development facility in Virginia to establish best practices on all aspects of culinary, food science, production, engineering, packaging, supply chain and product delivery. The Center of Excellence will also lead groundbreaking agricultural initiatives with local universities, including research on chickpeas, fruits and vegetables, to increase the use of local resources. The facility will feature a state of the art culinary center, ideation space, a pilot plant, offices, and research centers. Sabra also announced an expansion of its existing production facility in Virginia. These and associated investments will total $28 million dollars and create an estimated 90 new jobs over the next few years.

Construction on the 20,000 square-foot Center of Excellence will begin in the second quarter of 2012. The facility will be set on the same campus as the Company’s Silver LEED certified food manufacturing plant, which produces Sabra dips and spreads including the country’s best-selling hummus. Sabra is located on 49 acres in the Ruffin Mill Industrial Park in Chesterfield County, VA.

“The Sabra Center of Excellence will be home to experts in all areas of food technology, agriculture, nutrition, manufacturing and distribution and is the next important step in the outstanding growth of our company,” said Ronen Zohar CEO of Sabra. “The fact that we are building it in Virginia is a testament to our belief in the people, the community and the resources available here. This research and development center will push the envelope and enable us continue to expand and define the possibilities in the dips and spreads category in terms of innovation, taste, health and beyond.”

Sabra also announced that the company would immediately begin a significant expansion of its hummus production capacity. The expansion will enable the addition of two new lines, a packaging automation system, water waste systems and related plant improvements. The factory expansion will increase the Chesterfield plant’s production capacity by 50 percent and is in response to the continued increased demand for Sabra hummus.

Dan Gecker, chairman of the Chesterfield Board of Supervisors said, “Chesterfield is proud to have Sabra Dipping Company as one of our leading corporate citizens. This increased investment and growth will result in new and exciting high quality products and, most especially, jobs. Thank you Sabra for your confidence in and commitment to Chesterfield County.”

“We thank Sabra for their continuing investment. The food industry is one of our economic development targets and this high profile announcement further solidifies Chesterfield's presence in the market. It is satisfying to see that, even in these tight economic times, manufacturing continues to grow in Chesterfield County,” said County Administrator Jay Stegmaier.

Sabra is known for its lines of authentic, flavorful and healthy dips and spreads. Sabra currently holds 56% of the hummus category in the US, as hummus gains popularity as a versatile dip and spread.

Sabra Dipping Company, LLC is a leader in the refrigerated dips and spreads category and producer of America’s top-selling hummus. Sabra’s award-winning hummus, available in more than a dozen flavors and a wide range of authentic, healthy and vegetable based dips and spreads can be found nationwide in club stores, supermarkets, specialty retailers and through food service. Sabra operates a Silver LEED certified factory in Virginia, and in 2011 received an A-Classification from the British Retail Consortium (BRC) audit board for food safety for its California plant. Visit Sabra at www.sabra.com, on Twitter at www.twitter.com/sabra and on Facebook at www.facebook.com/sabra.

Sabra Dipping Company was formed as a U.S./Canadian joint venture between Strauss Group and PepsiCo. The Sabra joint venture draws on both Frito-Lay, a division of PepsiCo, and Strauss Group’s expertise to continue building this growing business.

About Strauss Group
Strauss Group (TASE: STRS), Israel's second-largest food & beverage company, is an international corporation which comprised of five core business units: Strauss Israel (the second largest food and beverage company in Israel), Strauss Coffee, Strauss Water, Strauss-PepsiCo fresh dips and spreads, and chocolate chain Max Brenner.

Strauss Group has established strategic partnerships with leading multinationals companies including: PepsiCo and Frito-Lay, Danone, Haier, Virgin and TPG Capital.
The company operates in 18 countries and employs 14,000 people globally. In 2011, had a net revenue of $2.2 billion in turnover with 48.8% generated by international activities. For more information, please visit www.strauss-group.com.

Frito-Lay North America is the $13 billion convenient foods business unit of PepsiCo, which is headquartered in Purchase, N.Y. Learn more about Frito-Lay at the corporate Web site, http://www.fritolay.com/, the Snack Chat blog, http://www.snacks.com/ and on Twitter at http://www.twitter.com/fritolay.

About PepsiCo
PepsiCo is a global food and beverage leader with net revenues of more than $65 billion and a product portfolio that includes 22 brands that generate more than $1 billion each in annual retail sales. Our main businesses – Quaker, Tropicana, Gatorade, Frito-Lay and Pepsi-Cola – make hundreds of enjoyable foods and beverages that are loved throughout the world. PepsiCo's people are united by our unique commitment to sustainable growth by investing in a healthier future for people and our planet, which we believe also means a more successful future for PepsiCo. We call this commitment Performance with Purpose: PepsiCo's promise to provide a wide range of foods and beverages for local tastes; to find innovative ways to minimize our impact on the environment by conserving energy and water and reducing packaging volume; to provide a great workplace for our associates; and to respect, support and invest in the local communities where we operate. For more information, please visit www.pepsico.com.

In addition to Chesterfield County Economic Development; the Virginia Economic Development Partnership, the Virginia Jobs Investment Program and the Greater Richmond Partnership will assist Sabra with the expansion process. Governor McDonnell approved a $250,000 grant from the Governor's Opportunity Fund to assist Chesterfield County with the project.

Contact: Ilya Welfeld, Public Relations, Sabra Dipping Company (201) 439-1010
Will Davis, Director, Chesterfield Economic Development (804) 318-8550

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