Please ensure Javascript is enabled for purposes of website accessibility
Upcoming Event

Best Places to Work in Virginia

Hamburger Menu Hamburger Menu

Tag: development

Richmond council clears way for $325M VCU Health project

Richmond City Council approved the sale of the city’s Public Safety Building on Monday, clearing the way for a $325 million VCU Health System medical office tower and multi-use project downtown.

Council members unanimously approved the 3-acre property’s $3.5 million sale to Capital City Partners LLC, a collaboration between Michael Hallmark of Los Angeles-based Future Cities LLC and Susan Eastridge of Fairfax-based Concord Eastridge Inc. Hallmark and Eastridge were part of the failed Navy Hill project last year and made an unsolicited offer last May for the aging Public Safety Building on 10th Street near City Hall. In the plan, the building will be demolished.

The $325 million mixed-use development would include an office tower with space for VCU Health System administrators and physicians, Class A office space and ground-level retail space, as well as new facilities for The Doorways and Ronald McDonald House Charities, which both provide housing and support for families of hospital patients, and a child care center. The project also would include reconstruction of Clay Street between 9th and 10th streets. According to the mayor’s office, the project is estimated to generate $55.9 million in real estate tax revenue for the city’s general fund over the next 25 years.

“VCU and VCU Health are strongly committed to the redevelopment of this area.  The Public Safety Building project, along with the current construction of our new children’s inpatient hospital and Adult Outpatient Pavilion, will play a critical role in supporting a thriving urban center,” Michael Rao, president of VCU and VCU Health System, said in a statement.

“The sale and redevelopment of the Public Safety Building site is a critical first step to improving downtown,” Richmond Mayor Levar Stoney said in a statement. “My administration was glad to work with City Council and Capital City Partners LLC to create this great win for Richmond. The project will aid minority businesses, create child care slots for Richmond families, fund scholarships for graduates of Richmond Public Schools, and generate nearly $56 million in new revenue for the city’s General Fund over the first 25 years. We can, and we will, continue to grow Richmond by redeveloping underutilized city-owned property.”

The developers, who also are behind the proposed GreenCity project in Henrico County, have pledged to create a $500,000 fund to help offset costs of small businesses to lease office or retail space at the development, as well as funding organizations that support small businesses. The fund also would assist Richmond Public School graduates with scholarships.

Subscribe to Virginia Business.

Get our daily e-newsletter.

$8.5M parcel in Spotsylvania to be used for Veterans Affairs clinic

Nearly 50 acres of land along Route 1 and Interstate 95 in Spotsylvania County has sold for $8.5 million, Cushman & Wakefield | Thalhimer announced Wednesday.

The 48.75-acre parcel will be used to develop one of the nation’s largest Veterans Affairs facilities, according to Cushman & Wakefield | Thalhimer.  Carnegie Management and Development Corp. will construct a 450,000-square-foot, four-story outpatient clinic at 5317 Jefferson Davis Highway to be used by the Department of Veterans Affairs.

Carnegie Management and Development purchased the land from SH-Thompson LP and JHD LLC; and Carnegie will also install 2,600 parking spaces on the site. The project is expected to create 550 jobs and construction is expected to begin this year and be completed in late 2023.

Jamie A. Scully of Cushman & Wakefield | Thalhimer represented the buyer, while Adam Nelson and Virgil G. Nelson, also with Thalhimer, represented the seller during the transaction.

 

Subscribe to Virginia Business.

Get our daily e-newsletter.

Fairfax County’s Richmond Highway area ripe for development during next decade

Between the development of Amazon.com Inc.’s $2.5 billion East Coast HQ2 headquarters in Arlington and Virginia Tech’s $1 billion Innovation Campus in Alexandria, Northern Virginia is ripe for commercial and residential development during the next decade.

According to a market assessment study presented to Fairfax County’s Economic Advisory Commission, the Richmond Highway corridor (a 10-mile stretch between the Capital Beltway and Fort Belvoir in Fairfax County) could see demand for up to 493,000 square feet of retail space and 380,000 square feet of office space by 2030. Currently, there are approximately 31,000 people employed in the Richmond Highway area and nearly 1 million square feet of office and industrial development.

“Richmond Highway is one of the oldest and most important business corridors in Fairfax County,” Victor Hoskins, president and CEO of the Fairfax County Economic Development Authority, said in a statement. “This market assessment will help county officials, businesses, residents, stakeholders and partners along the corridor build on the important work already done by the county and understand what kind of redevelopment and revitalization opportunities will bring the most benefits for the community and value to the county.”

The study conducted by Washington, D.C.-based Partners in Economic Solutions (PES) shows the pipeline for retail, office, hotel and residential development, plans for land use and effects of the $1 billion Embark Richmond Highway initiative, which includes plans for transportation and development along 7.5 miles of the area. 

Embark Richmond Highway GPS system courtesy Fairfax County.

According to the study, residential development will be impacted by the outcome of the construction of a bus rapid transit line, which would include nine stops at business centers in the corridor. 

“With improved accessibility, the corridor should benefit from the influx of workers and residents anticipated to accompany the Amazon HQ2 facility in National Landing further north along Richmond Highway,” according to the report. Between 2020 and 2035, the report suggests there could be a 27.4% influx of households, jumping from 32,284 to 47,183 along the Richmond Highway corridor.

The study shows that there is no demonstrable need for a new hotel in the area during the next few years due to a drop in occupancy related to the COVID-19 pandemic.

“Though performing better than anticipated based on the economic climate, Richmond Highway hotels are still well below optimal occupancy and room rate levels,” according to the report. “Research indicates that the recovery from the pandemic may take more than four years for local hotels to return to pre-COVID-19 performance levels.”

The study also outlines plans for branding communities along the corridor, including North Gateway/ Huntington, Penn Daw, Beacon/Groveton, Hybla Valley/Gum Springs, South County Center and Woodlawn. It also addresses finding new use for public spaces, technical and financial assistance for Richmond Highway businesses and marketing targeted at real estate investors.

“It provides us a framework for understanding where the historic Richmond Highway is today and a possible path forward in the specific market areas of retail, hotel and office,” Fairfax County Supervisor Rodney L. Lusk said in a statement. “This study and its findings are the first step in plotting our course and I look forward to working with the community to develop an implementation plan.”

 

Subscribe to Virginia Business.

Get our daily e-newsletter.

Richmond City Council to consider $325M VCU Health tower

Richmond City Council will consider the $325 million sale and redevelopment of the city’s Public Safety Building into a VCU Health medical office tower. The project is proposed by Capital City Partners LLC, a joint venture from two developers who were involved in the failed Navy Hill project.

Mayor Levar Stoney announced Monday that his administration will introduce ordinances and legal documents for the project at the Feb. 8 City Council meeting and request that councilors allow the city to bypass a request for proposals in favor of moving forward quickly with the project.

Capital City Partners — a collaboration between Michael Hallmark of Los Angeles-based Future Cities LLC and Susan Eastridge of Fairfax-based Concord Eastridge Inc. — made an unsolicited offer last May for the aging Public Safety Building, which is on 10th Street near City Hall, part of the property where the $1.5 billion Navy Hill arena-anchored project was proposed in 2019.

Monday’s announcement notes that the purchase price for the 2.92-acre site — negotiated by the city and the developers — is now $3.5 million, up from $3.175 million offered last spring. According to the proposal, there will be no city financing for the new project.

The $325 million mixed-use development would include an office tower with space for VCU Health System administrators and physicians, Class A office space and ground-level retail space, as well as new facilities for The Doorways and Ronald McDonald House Charities, which both provide housing and support for families of hospital patients, and a child care center. According to the mayor’s office, the project is estimated to generate $55.9 million in real estate tax revenue for the city’s general fund over the next 25 years.

In February 2020, City Council killed the long negotiated Navy Hill plan, which had met with widespread controversy due to its proposed public tax funding. About three months later, Hallmark and Eastridge submitted their proposal to buy the Public Safety Building as a site for the office tower, which had been an added incentive offered in conjunction with the Navy Hill project.

“Redeveloping the old Public Safety Building will generate much-needed tax revenue for affordable housing, schools and our neighborhoods, while creating opportunities for minority businesses,” Stoney said in a statement Monday. “My administration proactively worked with City Council to make this long-overdue improvement to the city’s health care infrastructure a win for Richmond.”

The developers, who also are behind the proposed GreenCity project in Henrico County, have pledged to create a $500,000 fund to help offset costs of small businesses to lease office or retail space at the development, as well as funding organizations that support small businesses. The fund also would assist Richmond Public School graduates with scholarships.

Currently the building, built in 1954, houses offices and operations for the city’s Department of Justice Services and the Adult Drug Court, in addition to public works. Maintenance costs about $389,000 a year, and the building has $20.9 million in immediate, deferred repairs, Stoney’s office said. According to documents to be presented to the City Council later Monday, the project would be completed within three and a half years if approved.

The project is expected to be up for a vote at council’s Feb. 22 meeting.

Subscribe to Virginia Business.

Get our daily e-newsletter.

Amazon reveals Arlington HQ2’s ‘Helix’ centerpiece

Despite lingering questions around when or how remote workers may return to office life following the pandemic, Amazon.com Inc. on Tuesday released fresh plans for the second phase of its $2.5 billion East Coast HQ2 headquarters in Arlington’s National Landing area, where it is gearing up to employ 25,000 people during the next decade.

“When the public health situation improves and as regulations allow, we will continue to see value in bringing our employees together in a physical space to cross-pollinate ideas and foster collaboration,” John Schoettler, Amazon’s vice president of global real estate and facilities, said in a statement. “With our hiring and construction on pace, we’re ready for the next chapter.”

Rendering of The Helix. Photo courtesy Amazon
Rendering of The Helix. Photo courtesy Amazon.com Inc.

After two years of planning, Amazon released plans for its 2.8-million-square-foot redevelopment of the PenPlace block in Arlington’s Pentagon City area. The Amazon HQ2 complex’s next phase will include three 22-story office buildings with ample open coworking space, designed by Seattle-based architecture firm NBBJ. It will also feature 2.1 acres of green space topped by “The Helix,” a distinctive 370,000-square-foot spiral-shaped tower that will offer “alternative working environments” for Amazon employees. Trees and plants native to Virginia will be used in the project, which also includes plans for 100,000 square feet of retail and outdoor gathering space.

The helix-shaped design is a nod to Amazon’s devotion to the innate human desire to be connected to nature, as reflected in the e-commerce giant’s Seattle headquarters, The Spheres, which features a collection of more than 40,000 plants. The Helix building is expected to be completed by 2025 and Amazon plans to offer weekend tours of the facility, just like it does with its Seattle Spheres building.

The green theme doesn’t stop there. Amazon’s PenPlace buildings will be designed to meet the LEED Platinum standard, the highest certification for sustainable developments. The project’s all-electric central heating and cooling system will run on 100% renewable energy from a Pittsylvania County solar farm. In January 2020, Arlington County and Amazon entered into agreements with Richmond-based Dominion Energy Inc. to purchase power for local government operations and Amazon’s HQ2 East Coast headquarters from the Pittsylvania County solar farm. The solar farm is anticipated to be operational by 2022.

The PenPlace development also sets aside more than 2.5 acres of green space for public use, including an amphitheater to host concerts, farmers’ markets and outdoor movies.

Rendering of green space as part of PenPlace project. Photo courtesy Amazon
Rendering of green space as part of PenPlace project. Photo courtesy Amazon

Aside from the new PenPlace development, Amazon has already made a major mark on the National Landing area. In December 2020, Amazon’s HQ2 developer, JBG Smith, announced that it had completed renovations on a 14-story, 273,000-square-foot office space for HQ2. Additionally, Amazon has leased a whopping 857,000 square feet across five buildings from the Bethesda, Maryland-based developer, which is also managing construction of an additional 2.1 million square feet of office space to be split among twin towers. JBG Smith’s Amazon development plans also include a one-acre park and 50,000 square feet of retail space.

“Despite many of our employees working from home at this time, we view our Arlington headquarters as a long-term investment, and we remain committed to creating 25,000 jobs and investing $2.5 billion in Arlington over the next decade,” Schoettler said in a statement.

As of December 2020, Amazon had hired more than 1,600 people for its Arlington location. In early January, Amazon announced it is committing nearly $340 million to affordable housing efforts in Arlington. The commitment is aimed at establishing as many 1,300 affordable homes.

 

Subscribe to Virginia Business.

Get our daily e-newsletter.

Roanoke clears path for more downtown development

Roanoke developer Lucas Thornton hopes to break ground this summer on a multimillion-dollar renovation project that will transform what is now Campbell Court Transportation Center, the city’s rundown bus station, into an office tower and another building with apartments and retail space.

Thornton’s $35 million development, tentatively named Randolph Street, inched closer to becoming reality in mid-November 2020, when members of Roanoke’s City Council voted unanimously to amend the city’s zoning ordinance so public transit centers are allowed downtown by right.

The city’s plan to build a $9.8 million Valley Metro bus station on what is now a parking lot on the corner of Salem Avenue and Third Street met with opposition earlier in the year. Citizens spoke out against the location, saying it sits too close to a section of downtown that is enjoying success from several revitalization projects. Popular restaurants, residences and a microbrewery now punctuate a street previously lined by light industrial and warehouses.

Richmond-based developer Bill Chapman, who is responsible for many of the successful Salem Avenue projects, was an especially vocal critic of the bus station site and offered to build an apartment complex on the proposed site in exchange for moving the station four blocks west — a plan rejected by council because the site was considered too far from the center of downtown. Chapman declined to comment for this article.

Hearing the concerns, the city Board of Zoning Appeals voted in August 2020 against granting a special-use exception for the bus station to be built at the parking lot. The city could have appealed the decision in court, but instead councilors amended the zoning ordinance to allow for the new station.

Thornton, managing partner of Hist:Re Partners, is optimistic he may see construction on the mixed-use Randolph Street project begin in June, with an opening date planned for fall 2022. The project will include a 60,000-square-foot office tower, about 12,000 square feet of retail space, 90 apartments, 15 homes and a pedestrian courtyard, Thornton says. The majority of the commercial and retail spaces have tenants lined up, he said.

City Manager Bob Cowell calls the Randolph Street development “an exciting chapter in downtown’s continued renewal.” Lucas also is developing a four-story apartment building in Roanoke across from Norfolk Southern Corp’s former locomotive shops, which closed in May 2020.

$380M mixed-use development coming to North Woodbridge

A new $380 million mixed-use development is coming to North Woodbridge in Prince William County, the IDI Group Cos. and Boosalis Properties announced Wednesday.

The North Woodbridge Town Center project will include 160,000 square feet of retail space, restaurants, bars, grocery stores as well as 900 apartment units. It will be built during the next five to 10 years on land that sits at the corner of Route 1 and Occoquan Road.

“We’re eager to bring this exciting development to North Woodbridge,” Boosalis Properties President George Boosalis said in a statement. “I have seen the transformation of this area since I was a kid, and it seems like this is the natural next step. We appreciate all the support from the community, the county and the Board of Supervisors.” 

The developers have worked with Prince William County to secure an economic development fund that was used to buy adjacent land. 

“This key redevelopment project lays the foundation for long-term economic resiliency and will be a catalyst for the emergence of North Woodbridge into a vibrant mixed-use neighborhood,” Christina Winn, executive director of the Prince William County Department of Economic Development, said in a statement. “This investment in the new town center will drive further economic growth, attract new businesses, and create new jobs throughout the area.”

Map of ICI Group Cos. and Boosalis Properties' North Woodbridge Small Area Plan. Photo courtesy Prince William County
Map of ICI Group Cos. and Boosalis Properties’ North Woodbridge Small Area Plan. Photo courtesy Prince William County

The development is part of Prince William County’s Small Area Plan, which is intended to encourage mixed-use development and transportation network improvements. The site for the development announced Wednesday is adjacent to Route 1, which is currently undergoing construction and expansion. 

The Small Area Plan includes other surrounding land parcels where other regional developers have been looking at opportunities to buy and develop. The development by IDI Group Cos. and Boosalis Properties would be located in the “Town Center” region of the Small Area Plan, which also includes the Marumsco and Belmont Bay regions.

“We’re already seeing the momentum as more businesses and investors are interested in North Woodbridge and eastern Prince William County because they recognize the area as the next new emerging market due to its strategic location, transportation network and expansive water views,” Winn said in a statement.

 

 

Subscribe to Virginia Business.

Get our daily e-newsletter.

Henrico County announces $2.3B GreenCity arena project

Henrico County officials announced Tuesday plans for a $2.3 billion arena-anchored development, born out of the failed Navy Hill project proposal for downtown Richmond. But with private financing and no projected impact on county taxpayers, the GreenCity development may have a smoother path. 

Proposed on the 204-acre former Best Products property owned by the county, GreenCity would be a mixed-use “ecodistrict” including a “green” 17,000-seat arena, 2.3 million square feet of office and retail space, 2,400 housing units and two hotels, with a sustainability focus. 

The arena would be in operation in 2025, and the former Best headquarters would be adapted to commercial office space for multiple tenants, according to the proposed timeline for GreenCity. The buildout would be complete in 2033.

The project is being developed by Capital City Partners LLC, a partnership between Michael Hallmark of Los Angeles-based Future Cities LLC and Susan Eastridge of Fairfax-based Concord Eastridge Inc., who teamed up on the $1.5 billion Navy Hill proposal, which was rejected by Richmond City Council in February 2020. 

Unlike the Navy Hill project, GreenCity would be privately funded with four sequences of development over 12 years, according to documents from the developers. The arena would be financed through Community Development Authority (CDA) bonds, “which direct incremental taxes from the Best Products site’s new development, along with revenues generated by the new arena to pay off the cost of the arena.”

Developers expect the bonds to close in 2023 with enough funds to build the arena, including $1.4 billion in arena revenues, $650 million in total gross debt service over a bond term of 30 years, and $750 million returning to Henrico County over the term. Once all bonds are repaid, all tax revenue would go to the county.

The first step of the process would take place in January, when the Henrico County Board of Supervisors must approve the site transfer to the county’s Economic Development Authority (EDA)  for the project to go forward.

Navy Hill’s corporate backers are not involved in GreenCity, the developers said in their statement. Dominion Energy Executive Chair Thomas F. Farrell II was chairman of the nonprofit NH Foundation board formed in 2017 with NH District Corp., which was the only entity that responded to the city of Richmond’s request for downtown revitalization proposals later that year. Other board members included Martin J. Barrington, former chairman and CEO of Altria Group, and William H. Goodwin Jr., the retired chairman and president of Riverside Group who owns the Jefferson Hotel.

A council-appointed commission issued a report in January that the arena was not “a sound and reasonable public investment in the redevelopment of downtown,” and a consultant hired by City Council, while largely complimentary of the project, cited several weaknesses, including the lack of an appraisal of the property.

One of Richmonders’ chief objections to Navy Hill was the proposed Tax Increment Finance (TIF) area downtown that would have used tax revenue to pay for the arena; originally an 85-block area, the TIF district shrank to 11 blocks amid continuing controversy. Residents and city councilors still were concerned that the project could take money away from schools and other infrastructure, leading to a split City Council decision to kill the deal in February.

GreenCity, however, is “completely different,” according to developers, “as this development plan is based on green space versus infill,” and the CDA would encompass only the development area. They project that once the arena bonds are paid off, “GreenCity will become the largest single generator of tax revenue in the county.”

“We are thrilled to endorse this bold, visionary opportunity, as it is in sync with everything that Henrico County stands for and has been working hard to achieve — inclusion, resiliency, mobility, innovation and job growth,” Henrico County Manager John A. Vithoulkas said in a statement. 

GreenCity will be designed with environmental sustainability, civic engagement and inclusion in mind, according to the county, and will include parks, trails and open spaces. 

“We’re talking about a new kind of community that is intricately planned, inclusive for all and thoughtfully designed to be not only livable but also to set new standards for environmental sustainability,” Vithoulkas said in a statement. “GreenCity will be a community that preserves, embraces and showcases open space, and it will drive economic development and tourism in new and exciting ways while remaining respectful to county taxpayers. 

The arena will include flexible seating configurations for concerts, shows and sports teams, including ECHL Hockey and G-League Basketball, according to Henrico County.

“The arena will put this region back on the entertainment map,” Vithoulkas said in a statement. “It also will provide tremendous benefits to our county while creating no financial risk to our taxpayers.”

If the project receives approval from the Henrico County Board of Supervisors, the EDA anticipates it will enter into an agreement to convey the land to the developers pending rezoning approval. Developers anticipate a formal plan and rezoning application will be submitted to the county in early 2021. Officials will conduct a financial projection review as part of the proposal. 

The Navy Hill project, which was championed by Richmond Mayor Levar Stoney, would have included a partly publicly funded $235 million, 17,500-seat arena — the state’s largest entertainment venue — and 260,000 square feet of retail and restaurant space; a 541-room luxury hotel within walking distance of the Greater Richmond Convention Center; 1 million square feet of commercial and office space; more than 2,500 apartments; a $10 million renovation of the Blues Armory; and a GRTC Transit System bus transfer station. VCU’s Center for Urban and Regional Analysis estimated that the project, which would have taken four to five years to complete, would have created 9,300 permanent jobs and 12,500 construction jobs.

 

Subscribe to Virginia Business.

Get our daily e-newsletter.

Shuttered Alexandria power plant making way for mixed-use development

A former coal-fired power plant in Alexandria will become home to a mixed-use development along the Potomac River. 

Chicago-based Hilco Redevelopment Partners (HRP), a Hilco Global business unit, announced Monday it purchased the 71-year-old Potomac River Generating Station site, which encompasses approximately 20 acres. HRP acquired the property through an agreement negotiated with Potomac Electric Power Co. (Pepco), which will retain a property interest on part of the site where it will continue to own and operate an electrical substation.

“We’re excited for the opportunity to redevelop the old Potomac River Generating Station site,” HRP CEO Roberto Perez said in a statement. “Hilco Redevelopment Partners is committed to remediating this extraordinary site to the most current environmental standards and transforming it into a new and exciting development that will best serve the community and create economic growth and opportunity for all stakeholders.”

The Potomac River Generating Station (PRGS) site, located in the Old Town North neighborhood in Alexandria, was decommissioned in 2012, but remains one of the largest industrial sites in Alexandria. The Alexandria City Council in 2017 approved a plan committing to “creating sustainable and livable communities,” at the site.

“We approach every redevelopment opportunity in a way that is sustainable for the environment, sustainable for the community, and sustainable for jobs,” Perez said in a statement. “Alexandria will be no exception.”

Details of the planned mixed-use development have yet to be released. HRP will work with the city of Alexandria, community partners and stakeholders on plans for the former industrial site.

“We are thrilled to have the chance to re-envision this former industrial site in a manner that is consistent with the Old Town North Small Area Plan and provides for new uses such as housing, commercial office, dining and retail and public open space along the Potomac River and we look forward to working with local officials and stakeholders on the vision,” Melissa Schrock, HRP senior vice president of mixed use development, said in a statement.

 

Subscribe to Virginia Business.

Get our daily e-newsletter.

N.C. furniture manufacturer to create 150 jobs in Pittsylvania

North Carolina-based Ison Furniture Manufacturing Inc. will invest $3.5 million to acquire and renovate the recently closed A.C. Furniture Co. Inc. facility in Pittsylvania County, creating 150 jobs, Gov. Ralph Northam announced Monday. 

Ison furniture will also purchase new assembly and production equipment for its upholstered furniture products. Its supplier, Dogwood Global LLC, will occupy a vacant onsite 30,000-square-foot building and invest $500,000 in new equipment. Ison will also dedicate excess upholstery and sewing capacity at the facility to manufacture personal protective equipment for COVID-19 response.

“We are pleased to welcome Ison Furniture Manufacturing and Dogwood Global to Southern Virginia,” Northam said in a statement. “Manufacturing is an important pillar of many communities across our commonwealth and is key to rebuilding our economy in the wake of the ongoing global pandemic. The region’s strong history with textiles and furniture combined with the caliber of the existing upholstery and furniture-building workforce makes this project a natural fit for Pittsylvania County, and we look forward to the future success of this new operation.”

Ison Furniture produces furniture for consumer and hospitality markets and has two facilities in North Carolina. Closed in March 2020, A.C. Furniture Co. had operated in Pittsylvania County since 1977.

“Southern Virginia is known for having some of the finest furniture craftsmen in the country, and Virginia has led the way in providing a foundation for businesses and employees to grow and prosper together,” Ison Furniture President Akria Ison said in a statement. “Local and state government embraced our concept of designing a COVID-conscious facility, and our family-owned business looks forward to helping over 150 employees prosper and take care of their families.”  

Virginia competed with North Carolina for the project. The Virginia Economic Development Partnership (VEDP) worked with Pittsylvania County, the Southern Virginia Regional Alliance and the Virginia Tobacco Region Revitalization Commission to secure the project. Northam approved a $186,500 Commonwealth Opportunity Fund grant to help Pittsylvania County with the project. Employee training will be provided through VEDP’s Virginia Jobs Investment Program. 

“Our initial plan was to open the factory in North Carolina, but Virginia was far and away a better option,” Rodney Terry, Dogwood Global vice president of business development, said in a statement. “The economic environment Virginia has built over the years gave us the confidence that our financial investment would be secure. We told the economic development group that we had contracts we had to fill, and the speed moved on this project blew us away. Virginia is ready for business.”

 

Subscribe to Virginia Business.

Get our daily e-newsletter.