(Danville, Va.) – Gov. Ralph Northam announced Thursday that 500 new jobs are coming to Danville courtesy of the PRA Group.

The company is a Norfolk-based debt collection agency that will locate in the former  Telvista site in Airside Industrial Park. PRA does work for many major banks.

The company plans to spend $15.1 million to establish a new call center in Danville.

Founded in Norfolk, Virginia as Portfolio Recovery Associates, PRA Group, Inc. is now one of the nation’s largest debt recovery firms. By returning capital to banks and other creditors, the company helps to expand financial services for consumers in the Americas and Europe. PRA Group employs more than 2,000 in its Norfolk and Hampton facilities and 5,000 worldwide.

The Virginia Economic Development Partnership worked with the City of Danville, the Southern Virginia Regional Alliance, and the Virginia Tobacco Region Revitalization Commission to secure the project for Virginia. Governor Northam approved a $1.5 million grant from the Commonwealth’s Opportunity Fund to assist Danville with the project.

The Virginia Tobacco Region Revitalization Commission approved a $1,665,000 million Tobacco Region Opportunity Fund grant as well as a $1,665,000 million loan for the project.