Target to expand Suffolk location
Target Corp. is planning to spend $50 million to expand its distribution operation in Suffolk.
The expansion will create “hundreds of jobs,” Gov. Terry McAuliffe said in a statement .
“Virginia has always been an important market for Target,” Keri Jones, Target’s executive vice president of global supply chain and operations, said. “A strong local workforce and close proximity to the nearby port make the Suffolk distribution facility ideal for expansion.”
The company will receive benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant program, which provides grants to companies involved in Virginia’s maritime commerce based on the number of permanent, full-time positions created. (For example, $3,000 per job if the company creates at least 100 new, full-time positions in the year after expansion occurs.) A qualified company can earn up to $500,000 in a given fiscal year.