Wells Fargo will invest $87 million to update and expand its Roanoke County customer support center, creating approximately 1,100 new jobs, the governor’s office announced Tuesday.
This expansion will make Wells Fargo the largest employer in Roanoke County, and the project represents both the largest commercial office investment and single project employment announcement in Roanoke County’s history, according to a news release from Gov. Glenn Youngkin’s office.
The investment will also “enhance the working experience” for more than 1,650 current employees, the news release said.
“We’re one of the largest private employers in the Roanoke region,” John Delaney, head of Wells Fargo’s consumer operations, said in the release, “and we are pleased to be able to make these investments in this space, including expanded amenities like food, health, and well-being options, as well as improved and expanded collaboration spaces, all supported through significant upgrades in technology throughout the building.”
Cardinal News requested additional details Tuesday from Wells Fargo, including a timeline of the investment and more specifics about the amenities. A company spokesperson said they hoped to provide that information Wednesday.
The Virginia Economic Development Partnership worked with the county, the Roanoke Regional Partnership and the Virginia General Assembly’s Major Employment and Investment (MEI) Project Approval Commission on the project, the governor’s office said.
Wells Fargo will be eligible for a $15 million MEI custom performance grant, subject to General Assembly approval. VEDP will support Wells Fargo’s job creation through state programs.
The customer support center is on Plantation Road in the Hollins area of Roanoke County, a short distance off Interstate 81.
“Over the past decade, Roanoke County has led the implementation of over $14 million in transportation improvements along the Plantation Road business corridor that serves Wells Fargo,” Roanoke County Supervisor Phil North said in the release. “These improvements have greatly enhanced accessibility to the site and added pedestrian accommodations that serve Wells Fargo’s employees.”
The Roanoke Regional Partnership, a regional economic development organization, predicts that the investment will have an annual recurring economic impact of $322 million once the center is at full operations, supporting 798 indirect and induced jobs, or jobs created by a company spending money on goods and services in the region.
“Wells Fargo’s confidence in the market is further proof of the region’s strength in talent development and recruitment,” said John Hull, the partnership’s executive director.
Wells Fargo & Company (NYSE: WFC) is one of the nation’s largest banks, with around $1.9 trillion in assets and operations in 35 countries.