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Recent Articles from Katherine Schulte
M S International to open $61.6M Suffolk distribution center
M S International Inc. (MSI), a California-based flooring, countertop, wall tile and hardscaping products supplier, will invest $61.6 million to establish its East Coast distribution facility in Suffolk, a project expected to create 80 jobs, Gov. Glenn Youngkin announced Thursday. McDonald Development Co. will construct the 548,000-square-foot facility, which will be located at 2821 Holland [&hell[...]
Floyd biochar producer to invest $2.6M in expansion
Floyd-based SWVA Biochar LLC, an absorbent charcoal producer, will invest $2.6 million to increase its Floyd County operations’ capacity, a project expected to create 15 jobs, Gov. Glenn Youngkin announced Wednesday. Biochar is a highly absorbent, specially produced charcoal made by heating biomass with little to no oxygen. The product is used for filtration systems […]
Independent colleges council taps former state delegate as leader
Former Virginia Del. Christopher K. Peace will be the next president of the Council of Independent Colleges in Virginia Inc. (CICV) after the 2023 regular General Assembly session concludes. “[Chris] is far more than a lobbyist and attorney — he is a strategist with a great grasp of the issues. He carries a reputation as […]
Va. to receive $6.22M to expand broadband
Virginia is receiving $6.22 million in “Internet for All” federal grants funded by the Bipartisan Infrastructure Law, the U.S. Department of Commerce’s National Telecommunications and Information Administration (NTIA) announced Thursday. “As we continue to compete in the 21st century, it is crucial that we close the digital divide in Virginia,” U.S. Sen. Mark Warner said […]
NY foundation invests $10M in Appalachian Community Capital
Appalachian Community Capital, a Christiansburg-based community development financial institution that provides capital for small businesses across the Appalachian region, will receive an additional $10 million investment in the form of a low-interest loan from the Ford Foundation, the New York-based nonprofit announced Wednesday. The Ford Foundation initially invested $3 million in ACC in 2015. A[...]
Youngkin to propose $350M for site development
Gov. Glenn Youngkin will propose allocating a new $350 million investment for industrial site development next week, the governor said in a speech delivered Friday at the Virginia Chamber’s Virginia Economic Summit & Forum on International Trade. In the 2022-24 budget, which Youngkin signed in June, the state allocated $150 million for the Virginia Economic […]
Barkin: To address inflation, U.S. must rethink labor
As the U.S. moves to a short-labor environment, it will be necessary for businesses, governments and nonprofits to reassess their approach to labor, Federal Reserve Bank of Richmond President and CEO Tom Barkin said Friday in Richmond. Speaking at the Virginia Chamber’s 2022 Virginia Economic Summit and Forum on International Trade, Barkin said that although […]
Fed’s Fifth District economy expands slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has expanded slightly since October, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions g[...]
100 people to meet in 2023
It‘s time to set your social calendar for 2023, and here are some Virginians you’ll want to introduce yourself to — Virginia Business’ fourth annual list of 100 people to meet in the new year. Hailing from all parts of the state and representing a variety of industries and nonprofits, this year’s cohort includes Nightingale […]
Chesapeake Bank CFO appointed COO
Chesapeake Financial Shares Inc. has appointed its chief financial officer, Rebecca Andrick “Becky” Foster, to the additional post of chief operating officer, the Kilmarnock-based parent company of Chesapeake Bank and Chesapeake Wealth Management announced Monday. Foster, who has has been with the company for 27 years, has been its senior vice president and chief financial […]
