Richmond – Governor Bob McDonnell announced today that Canon Virginia Inc., a valued user of The Port of Virginia, will invest $27 million to expand its operation in the City of Newport News.
Canon Virginia, Inc., a wholly-owned subsidiary of Canon Inc., will add the manufacturing of toner for Canon copiers in 30,000 square feet of upgraded space at its Newport News campus.
"This investment and expansion project is significant for the Newport News campus, as it represents not only a new opportunity stemming from our recent visit to Japan, but also maintains the focus of Canon's overall global production strategy and the role that the Virginia operations play," McDonnell said. "The addition of toner manufacturing at the Newport News campus further solidifies the future viability of the plant and brings Canon Virginia's total capital investment to more than $371 million in just the last four years."
The Virginia Economic Development Partnership worked with the City of Newport News to secure the project for Virginia. McDonnell approved a $3 million performance-based grant from the Virginia Investment Partnership program, an incentive available to existing Virginia companies.
Headquartered in Newport News, Canon Virginia serves as the manufacturing support center for Canon U.S.A. Canon Virginia uses state-of-the-art production systems and extensive technical and manufacturing expertise to offer manufacturing solutions, including injection mold tools, metal and plastic parts, product manufacturing and reverse manufacturing.
"This investment and expansion is a symbol of our commitment to the Commonwealth of Virginia," said Toru Nishizawa, president and CEO of Canon Virginia.
"Canon Virginia's expansion is a true testament to the company's commitment to excellence in manufacturing and also demonstrates that the City of Newport News and Commonwealth are attractive places for global manufacturers to do business," said Florence G. Kingston, Newport News Director of Development.
Canon U.S.A., Inc., is a provider of consumer, business-to-business, and industrial digital imaging solutions. With approximately $40 billion in global revenue, its parent company, Canon Inc. (NYSE:CAJ), ranks third overall in U.S. patents registered in 2012.