When CNBC released its prestigious annual ranking of “America’s Top States For Business”, few were surprised when Virginia was chosen as the winner. With large-scale ongoing investments such as Micron’s $3 Billion expansion in Manassas, Virginia is widely regarded as an exceptional location to start and grow a business. Since the study began in 2007, Virginia has been named the Top State for Business three other times, in 2007, 2009, and 2011.
Micron’s $3 billion expansion plans are well underway
Micron’s 2018 announcement of a $3 billion expansion of its operations in Manassas only added to the region’s attractiveness and put Virginia over the top once again as the Top State for Business. The deal was the largest capital investment in modern Virginia history, promising a massive economic impact to the city of Manassas and the state of Virginia. Construction is already well underway on Micron’s new 600,000 square foot facility, and the investment will continue to create 1,100 jobs over the next decade, allowing Micron to invest in new technology and capabilities to stay ahead of the ever-changing technology curve.
Micron Technology is a world leader in semiconductor manufacturing and has had a large presence in Manassas since 2002. For nearly two decades, the company has been one of the region’s major draws for STEM workers, and has raised the state’s reputation as a highly-suitable and welcoming location for high-tech companies and employees.
Why Manassas and Micron are a great fit
Over the last two decades, more and more products have been developed that require memory and storage, greatly increasing demand for more —and more powerful— semiconductors. Micron saw the opportunity to adapt and grow to meet demand, and decided to expand in Manassas.
The consistent high quality of the manufactured product and the skilled and dedicated employees in the current facility helped convince Micron to stay in Manassas. The continuous availability and high concentration of a highly-educated STEM workforce in the region was another convincing reason for further investment and commitment. Indeed, Virginia has the highest concentration of tech employees in the U.S., and Manassas has the 4th highest pay in the state for tech workers. Both Micron and the City of Manassas have plans to develop and maintain the next generations of qualified, technically-skilled employees.
Other businesses have recently chosen large-scale expansion projects in Manassas as well, including the $13.75 million investment by Aurora Flight Sciences, and Chantilly Air’s construction of its new hangar and office space at Manassas Regional Airport. These recent expansions in Manassas are indicative of a very strong local economy with a highly-skilled workforce and a local government that is willing to work with businesses to facilitate expansion.
Micron investment in Manassas tips scales towards Virginia’s #1 ranking
Micron’s decision to invest so heavily in Manassas adds to the attractiveness and competitiveness of the region, the state, and the country. While many factors were considered, Micron’s investment definitely played a part in CNBC’s decision to award Virginia the Top State for Business. Amazon’s HQ2 was certainly a victory for the state, but it was more indicative of what Micron already showed and helped solidify- that Virginia is, bar none, the best state for a business to expand and thrive.
“We thank Micron for choosing to deepen their roots in Virginia and look forward to partnering in their next chapter of growth.” —Virginia Gov. Ralph Northam