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Virginia named top business climate in U.S. by Business Facilities
Business Facilities magazine, a trade publication that focuses on corporate site selection and economic development, has named Virginia first in the nation for its overall business climate, Gov. Ralph Northam announced Tuesday. The state joins fellow honorees Tennessee (recognized for best dealmaking) and Massachusetts, recognized for its workforce and educational system in Business FacilitiesR[...]
Plastics manufacturer to produce 300 jobs in Chesterfield
Starplast USA, a subsidiary of Israel-based plastic manufacturer Starplast, plans to invest $17.7 million in a new facility in Chesterfield County, creating 300 jobs over the next five years, Gov. Ralph Northam announced Tuesday. “Starplast chose Chesterfield County for its new manufacturing operation because the geographic location is very attractive, especially given its proximity to […[...]
CoStar Group to open $460M campus in Richmond
Washington, D.C.-based CoStar Group Inc., a commercial real estate data and analytics provider, will build a $460 million corporate campus in Richmond, creating 2,000 jobs, Gov. Ralph Northam announced Friday. The new campus will include a 26-story, 510-foot, LEED-platinum-certified skyscraper that will be the tallest building in Virginia, rising two feet taller than the Westin […]
Northam proposes $150M for site readiness
When Mazda Toyota was looking to build a plant that would have brought 4,000 jobs and 1.6 billion in investment, Virginia was ruled out. Why? Because Virginia didn’t have a competitive project-ready site available. Huntsville, Alabama, landed the deal instead. Since 2016, Virginia has lost out on 42,000 direct jobs and over $75 billion in capital […]
Two Va. projects are finalists for $100M U.S. EDA grants
Two Virginia projects — one to make Central Virginia an advanced pharmaceutical manufacturing hub and one to support the transportation and logistics cluster in Southern and Southwest Virginia — are two of 60 finalists for the U.S. Economic Development Administration’s Build Back Better Regional Challenge, which will provide awardees with up to $100 million each. […]
Qualtrics expansion expected to bring 400 jobs to Fairfax
Qualtrics, a data analytics and experience management software company based in Seattle and Provo, Utah, is expanding its presence in Fairfax County and expects to create 400 jobs in a new location in Reston, Gov. Ralph Northam announced Thursday. The company will move from its former office in Reston to an 85,000-square-foot space at 1906 […]
Patrick County flooring company announces $9.3M expansion
Ten Oaks LLC, a manufacturer of residential hardwood floors, will invest $9.3 million in a sorting and stacking facility in Patrick County, creating 11 jobs, Gov. Ralph Northam announced Wednesday. The company was established in 2004 in the town of Stuart and was acquired in 2019 by Canadian company Boa-Franc. The new facility is located […]
$31.5M Winchester turkey plant to create 111 jobs
Minnesota-based TFC Poultry LLC will invest $31.5 million to establish its second U.S. production facility in Winchester, a project expected to create 111 jobs, Gov. Ralph Northam announced Thursday. “Virginia’s strong agriculture sector continues to play a critical role in the success of our booming economy,” Northam said in a statement. “We are pleased the company […]
Shenandoah Valley races to develop industrial sites
A flurry of recent industrial investment in the Shenandoah Valley has regional economic development officials eager to make new sites shovel-ready as companies put a premium on locations that will enable them to stand up operations as fast as possible. Fast-casual restaurant chain Cava’s September announcement that it will build a $30 million, 57,000-square-foot processing […]
Hot property
Richmond real estate developer Andrew Basham’s company, Spy Rock Real Estate, owns so many properties within Scott’s Addition that local business owners jokingly refer to the neighborhood as “Andrew’s Addition.” As the area has become Richmond’s hottest neighborhood — literally and figuratively — Basham and his business partners at Spy Rock appear to have been […]
UK race car maker taps into Martinsville talent
College students in Martinsville can get on the fast track to careers with British race car manufacturer Radical Sportscars. In May, the Peterborough, England-based company opened its first U.S.-based sales office at Patrick & Henry Community College’s Manufacturing and Engineering Technology Complex, close to the school’s Racing College of Virginia. That will be followed in […]
VEDP board taps interim president
The Virginia Economic Development Partnership Board of Directors’ executive committee voted unanimously on Nov. 17 to name Jason El Koubi interim president and CEO of the partnership, effective Jan. 1. VEDP’s executive vice president, El Koubi has been with the organization since July 2017. “We have succeeded because we have a highly talented, dedicated team, […]
