Admiral Americas LLC, a subsidiary of British automobile insurer Admiral Group plc, will locate a new U.S. headquarters operation in Henrico County, Virginia, near Richmond. The company says it will lease 26,000 of pre-existing vacant space and initially create between 40 and 50 new jobs, with a goal of increasing employment at the facility to 200 by the end of 2010. "The Richmond region has so much to offer, including cost-effective real estate, high-quality labor force, and a welcoming business environment," says Andrew Rose, president and CEO of Admiral Americas. The company says they chose the Virginia location over other sites in Texas, Illinois, and North Carolina. With its move to Virginia, Admiral Americas says it will re-name the business and is sponsoring a consumer "Name Our Biz!" contest with a $1,000 first prize. Neither the company nor state and local government agencies released information regarding financial incentives.