Southern Comfort: Modea Earmarks $10 Million For VA Expansion
Modea, a growing digital agency based in Blacksburg, VA, has reached agreement with the state to stay in town and spend $10 million on new corporate headquarters. Governor Bob McDonnell, who made the announcement, said Virginia had competed successfully with Illinois, North Carolina and Texas to retain the agency.
As part of its planned expansion, Modea will receive funding and services for employee recruitment and training from Virginia's Department of Business Assistance.
The 5-year-old agency currently has 75 workers -- up from just 30 two years ago -- and the number is expected to increase more than tenfold to 350 by the opening of the new headquarters in mid-2013, says Modea co-founder David Catalano.
The new building allows Catalano and Modea's other co-founder, Aaron Herrington, to remain in the town where both attended Virginia Tech before becoming entrepreneurs. The agency, which will refurbish a 6.1-acre site housing the former Blacksburg Middle School, may also be eligible for a Major Business Facility Job Tax Credit, according to the state.
Modea's dozen or so current clients include Mizuno, Lenox Tools, Verizon Wireless and Chiquita Bananas.
A year ago, the agency added media buying to its range of services, which also include analytics, SEM, content management, creative and mobile. Catalano said the agency plans to add staff in all those areas as it seeks to continue its diversification and do "breakout work."