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German manufacturer to add 500 jobs in Newport News
http://hamptonroads.com/2014/08/german-manufacturer-add-500-jobs-newport-newsGerman manufacturer to add 500 jobs in Newport News
By Philip Walzer
The Virginian-Pilot
© August 27, 2014
Continental AG, an auto-parts manufacturer in Newport News, announced Tuesday that it will add 500 jobs, roughly doubling its workforce.
Aside from expansion at Newport News Shipbuilding, the job increase is the largest for any employer in the city since Canon Virginia announced in 2008 that it was adding 1,000 jobs, said Florence Kingston, the director of development for Newport News.
The jobs will pay an average of about $50,000, including benefits, she said. They will be added over the next four to six years, said Kregg Wiggins, senior vice president of Continental's Powertrain division, who is based outside Detroit.
Continental will receive state incentive grants totaling about $7.8 million, said Suzanne Clark, a spokeswoman for the Virginia Economic Development Partnership. The company also will benefit from millions of dollars in reductions in state and city taxes.