VA: Carfax to Invest $15M to Expand in Fairfax & Loudoun Counties, Hire 120
2 Dec, 2015
Governor Terry McAuliffe announced Carfax®, the leading provider of vehicle history information for buyers, sellers, and owners of pre-owned cars in the United States, will invest $5 million to expand its headquarters in Fairfax County, creating 120 new jobs. The company will also invest $10.8 million to upgrade its data center operation in Loudoun County.
Speaking about the announcement, Governor McAuliffe said, “I am thrilled to announce that another Virginia-headquartered company is expanding its footprint in the Commonwealth. Virginia is a world-class center for emerging internet technology, software development, fiber optics and advanced communications companies, and helping businesses in these sectors grow and create jobs is a large part of our efforts to build a new Virginia economy. We are proud to boast Carfax on our corporate roster, and look forward to continuing this great partnership.”
“Carfax’s significant expansion is great news for Fairfax and Loudoun Counties and the data center industry in the Commonwealth,” said Secretary of Commerce and Trade Maurice Jones. “This is another example of an existing business that has benefitted from Virginia’s outstanding corporate climate, education system, well-trained workforce and quality of life, and it has chosen to expand its operations.”
Carfax, a unit of IHS Inc. (NYSE: IHS), provides trusted information that helps millions of people shop, buy, own and sell used cars with more confidence. Carfax created the Vehicle History Report in 1986 and continues to develop innovative services – like Carfax Used Car Listings and myCarfax – that help consumers, dealers, insurers, law enforcement, and the automotive industry. The company maintains a database comprising over 15 billion vehicle history records from more than 92,000 sources worldwide and handles more than 2.7 million requests for vehicle history information every day.
“We are proud to call Virginia home and are grateful to the Commonwealth for the support they’ve provided to help us thrive,” said President of Carfax Dick Raines. “We’ve found here a winning combination of world-class talent, 21st century infrastructure, global access, and amenities that make this one of the best places to live. We look forward to a continued partnership that will enable us to help millions of people this year and millions more far into the future.”
The Virginia Economic Development Partnership (VEDP) worked with the Fairfax County Economic Development Authority (EDA) and Loudoun County to secure the project for Virginia. Governor McAuliffe approved a $150,000 grant from the Commonwealth’s Opportunity Fund to assist Fairfax County with the project. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
“Carfax is a great example of a company that is diversifying the Fairfax County economic base as it grows,” said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority. “This is a leading firm in the automotive sector that is taking full advantage of the excellent workforce we have, and I am delighted to see that the company is expanding its data center capabilities in the Commonwealth as well as expanding its headquarters here.”
“We applaud Carfax for committing to a bigger presence in Virginia and expanding their data center operations in Loudoun County,” said Buddy Rizer, Director, Loudoun County Department of Economic Development. “With more than 3,000 tech companies hosting critical operations, Loudoun's ‘Data Center Alley’ is one of the most important IT neighborhoods in the world. This deal is a great example of how the Commonwealth and neighboring jurisdictions can work together to provide the right solutions and help a great company like Carfax grow in Virginia.”
“I am excited to see the expansion of Carfax's operations in Fairfax County, this investment and the new jobs that come with it is great news,” said Senator Dave Marsden (D-37, Fairfax County). “This is another step towards building the new Virginia economy, an economy based on innovation, technology, and ingenuity. The 37th Senate District in Fairfax County is the perfect place for this expansion because of our great schools and skilled workforce ready to take on these jobs.”
“Carfax is a real success story about how we can work together to diversify and strengthen our economy,” said Delegate David Bulova (D-37, Fairfax County). “I’ve had the opportunity to visit Carfax headquarters in Centreville and remain impressed with the company’s vision and dedication to its employees and the surrounding community. Virginia understands the importance of investing in people, and I am thrilled by the decision Carfax has made to continue investing in Virginia.”
“I congratulate Carfax on their expansion in Loudoun County,” said Delegate David Ramadan (R-87, Loudoun County). “As the Co-Founder and Co-Chairman of the Business Development Caucus in the Virginia General Assembly, I also congratulate Loudoun County and VEDP on their continuous efforts to encourage job creation in the Commonwealth.”
“Technology companies are a major driver of the eastern Loudoun economy. I’m always pleased when one of our local companies recognizes the strengths of our area and decides to further invest here,” said Senator Jennifer Wexton (D-33, Loudoun County). “Attracting and retaining businesses like Carfax is an essential part of strengthening and diversifying the New Virginia Economy in Loudoun, Fairfax and beyond.”