HENRICO, VA (WWBT) – Bank of America intends to make a significant investment in Henrico, according to plans filed with the county. The plans call for a massive new processing center in the very location that lost so many jobs just two years ago.
In 2009, Bill Osby worked on Technology Boulevard, in Eastern Henrico. But chip-maker Qimonda went out of business, and Bill lost his job. So he went back to school, waiting for the economy to turn around.
"After I got out of school, things were even worse than when I went in," Osby said.
At long last, Bill sees a new opportunity. Bank of America has approval to buy 65 wooded acres across the street from the old Qimonda plant.
Henrico's Economic Development board approved the agreement unanimously.
"We're trying to grow our tax base, and that's what our projects in economic development are about," said Gary McLaren, director of the Henrico Economic Development Authority.
Based on plans filed with the county, the $910,000 land deal would give way to at least one, and possibly two, 400,000 square foot processing centers and, potentially, more than 100 new jobs.
State Sen. Walter Stosch represents Henrico.
"We're recovering nicely in the sense that we're attracting a lot of new jobs," Stosch said.
Back at the site, Bill ponders his newfound certification with central air systems.
BILL: "I have just enough IT training to realize I would not be a very good IT tech."
ANDY: "But HVAC you can do?"
BILL: "I can do that," he said with a chuckle.
After two years of looking for a job, he's thinking that, in time, he might just end up back here.
"At this point, I'm considering just about anything," Osby said, adding, "Bank of America would be fine with me."
So what will a "processing center" do? That's not immediately clear, because Bank of America isn't commenting on the plans, which were first reported by the Henrico Citizen.
Now that Henrico County has approved the sale, authorities expect it to close within sixty days.