THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Wednesday, August 24, 1994 TAG: 9408240549
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
SOURCE: By MYLENE MANGALINDAN, STAFF WRITER
LENGTH: Short : 36 lines
Five businesses announced during the second quarter of the year that they would invest $40 million and hire 155 people in Hampton Roads, according to a state report by the Virginia Department of Economic Development.
The projections are lower than the 826 jobs that were to be created by expanding companies in the first quarter. But John K. Loftus, a statistical analyst, said the quarterly tallies are not significant. Figures for the total year are better indications of planned expansion.
He also warned that these numbers are only projections by the companies involved. They may alter their hiring figures, Loftus said.
On the list:
Newport News Shipbuilding led the list of five companies with its $30 million projected investment, the second-largest investment in Virginia during the second quarter, the report said.
Allied Colloids Inc. of Suffolk, which makes polymers, said it would invest $10 million and hire 10 people.
Norfolk's Al-Anon Family Groups Inc. said it would employ 60 people but did not designate a dollar amount for its total investment.
The distribution center of Virginia Hardwood in Hampton will hire 75 people. It, too, did not offer a dollar amount.
Advanta Technology in Southampton County, an industrial air filter manufacturer, said it would hire 10 people. It did not offer an investment amount. by CNB