ROANOKE CO., Va. – Gov. Glenn Youngkin announced on Tuesday that Wells Fargo plans to invest $87 million to expand its customer support center in Roanoke County.
We’re told this is the largest number of jobs announced in the county in more than 40 years for a single project.
The $87 million investment will create around 1,100 jobs, making Wells Fargo the largest employer in Roanoke County.
Officials said it will also enhance the working experience for more than 1,600 current employees.
Roanoke County’s Economic Development Director, Megan Baker, is excited to see a months-long project finally come to fruition.
“Whenever you get this kind of announcement, this kind of investment in employment … you’re going to have indirect effects. You’re going to have people going to restaurants. You’re going to have jobs generated from construction. There’s just a lot that comes with it,” Baker said.
Wells Fargo and Roanoke County’s relationship dates back years. With the new expansion, the relationship grows stronger.
“We’re just so proud they’re part of our community. They’re going to expand and continue to grow. We’re just so thankful they chose us, the alternative could have been worse,” Roanoke County Supervisor David Radford said.
Gov. Youngkin is also thankful for the expansion.
“Wells Fargo’s historic investment and new job creation has far-reaching benefits for Roanoke County, the region, and the Commonwealth. Virginia has established a strong foothold in the fast-growing financial services industry, and we have developed an innovative framework to focus on nurturing and expanding opportunities in this high-growth sector. Today’s announcement is proof that our efforts are yielding positive results, and I congratulate all involved on securing this major expansion.”
Gov. Glenn Youngkin
The expansion is set to begin Dec. 1, but Wells Fargo is hopeful that it will begin even sooner.
Wells Fargo ranked 47 on Fortune’s 2023 Rankings of America’s Largest Corporations, serving nearly one in three households and more than 10% of small businesses, according to the Roanoke Regional Partnership.
The organization forecasts an annual recurring economic impact of $322 million at full operations.