Lynchburg, VA - High-profile lawmakers including Governor Bob McDonnell convened in Lynchburg Tuesday to announce that Areva will invest more than $26 million in its operations in Lynchburg and Campbell County.
Part of the investment will be new advanced machinery, and research equipment.
The facility in Lynchburg was designated as the new "Operational Center of Excellence for Nuclear Products and Services in North America."
It was that designation that led the Governor to announce Lynchburg as the "nuclear energy capital of America."
Locally the company employs more than 1,800 people.
Nationally, Areva is the number one supplier of nuclear energy products and services.
"Areva's just a great company, they've been here now for about 26 years and this new investment today means they're going to be here for a long time. A center for excellence for the nuclear industry right here in what I think is the nuclear capital of Virginia, and that's Lynchburg, Virginia," Gov. Bob McDonnell said.
Areva also announced a series of state and local incentives to help in implementing the investments.
The company will be receiving $700,000 total in government funding to be used over the next three years.