Pepsi to expand business in NN

During the Newport News summit Monday, Mayor Joe Frank announced that Pepsi is investing in a $20-million dollar expansion to their existing business in Newport News. It will be a 16,000 sq. ft. expansion that will create 15 new jobs.

The company will now MAKE bottles on site rather than just bottling the product. That makes the Newport News Pepsi location just 1 of 4 in the United States capable of making bottles on site.

"Unparalleled success in uncertain times" was the focus of the economic summit in Newport News, Monday. Governor Tim Kaine was one of several state and local leaders who spoke the packed crowd, telling them their City is on the right track during a difficult time.

While many in attendance admitted times are very tough for almost everyone in Newport News, this was a day to focus on the positive. It was a day to bring hope and to show businesses are still investing their time and money in the community.

The room at the Marriott Conference Center in Newport News was packed with residents, like Joseph Reynolds, wanting to hear how the City is doing in these tough economic times.

"When you think about the crisis, economic crisis and the unemployment in so many places across the country these days, I'm just so proud we have as much industry as we do in Newport News," says Reynolds.

Representatives from the Holy Tabernacle Church of Deliverance were on hand, gathering information to take back to their congregation.

"What is going on within the City as far as economic times and what the plans of the City are supposed to be in reference to the stimulus package and also with the job opportunities that will be coming here," says Demetra Kee of the Holy Tabernacle Church of Deliverance.

The summit revealed growth during a time of cutbacks. By the end of 2008, officials say nearly $2-billion worth of company investments were announced in Newport News.

For example:

• Canon Virginia invested more than 600-million at its Newport News plant creating more than 1,000 jobs.
• Continental announced a 194-million dollar investment and 318 new jobs.
• While Areva, a French nuclear parts manufacturer teamed up with Northrop Grumman to invest 363-million dollars and create more than 540 jobs.

At Monday's economic summit, ODU Economics Professor Larry Filer explained the results of his study showing a ripple effect from that job growth.

"The initial job creation of say 3,360 jobs may generate somewhere around 3,200 other jobs in the region maybe as many as 600 more jobs in the City," says Filer.