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."
Recent Online Media Daily Articles
-
Weather.com Develops Real-Time Data Ad Targeting May 17, 5:12 p.m.
Weather.com has begun using audience segmentation data from Lotame to develop real-time ad targeting services based ... -
MetroPCS Drops Challenge To Neutrality Rules May 17, 4:44 p.m.
T-Mobile's newly acquired MetroPCS withdrew its challenge to the Federal Communications Commission's net neutrality rules on ... -
'Geo-Conquesting' Drives Higher Mobile Click Rates May 17, 3:56 p.m.
The practice of conquesting -- running advertising for a brand or product near editorial content about ... -
Cox-Backed, Skyword Raises $6.7 Million To Enhance Content Creation May 17, 3:34 p.m.
Internet services and utilities will rely more on content as the industry matures. Shereta Williams, vice ... -
Ford, Jeep, Chevy Top Digital Auto Brands May 17, 1:09 p.m.
On the digital proving track, Detroit is beating out the competition. Ford, Jeep and Chevrolet were ... -
Choosing Sides: VivaKi Backs comScore; ABC Throws In With Nielsen May 17, 9:52 a.m.
In a battle to control the future of the ad industry’s currency, Nielsen and comScore each ... -
Yahoo Adds Tweets To News Feed May 16, 6:18 p.m.
Yahoo will incorporate selected tweets into the news feed on its redesigned home page through a ... -
Mozilla Puts Cookie-Blocking On Hold May 16, 6:16 p.m.
Mozilla is putting the brakes on plans to block third-party cookies by default in the upcoming ... -
Mobile Ad Results In Line With Rich Media May 16, 5:39 p.m.
Mobile display ads perform roughly on par with rich media ads in terms of click-through and ... -
Google Plans To Transition Brands Into Content-Driven Advertising May 16, 4:30 p.m.
Google wants technology to "step out of the way" as developers integrate it into everyday life. ...
Be the first to comment on "Southern Comfort: Modea Earmarks $10 Million For VA Expansion "
Leave a Comment