🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Amazon Web Services to invest $35B in Virginia

Published 2023-01-20, 02:47 p/m
© Reuters.
AMZN
-

By Sam Boughedda

Amazon (NASDAQ:AMZN) Web Services plans to invest $35 billion in Virginia, the state's Governor, Glenn Youngkin, said Friday.

The tech giant will invest the money by 2040 to establish numerous data center campuses across Virginia, with various localities currently under consideration.

Amazon is already among the largest private-sector employers in Virginia after establishing its first AWS data centers and operations facilities in 2006, announcing its second headquarters in Arlington in 2018.

Virginia expects the investment to create at least 1,000 total new jobs across the state.

"AWS has a significant presence in Virginia, and we are excited that AWS has chosen to continue their growth and expand their footprint across the Commonwealth," said Governor Glenn Youngkin.

Amazon's Director of Economic Development at AWS, Roger Wehner, said: "Since 2006, AWS has invested more than $35 billion in Virginia, boosting the Commonwealth's total Gross Domestic Product by nearly $7 billion and supporting thousands of jobs annually. Building on these successful beginnings, we plan to invest an additional $35 billion in the Commonwealth of Virginia by 2040 and create 1,000 jobs."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.