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Danish company to establish $1.35M manufacturing facility in Henrico
Gov. Ralph Northam announced Wednesday that Danish manufacturer Rose Holm will invest $1.35 million to establish its first U.S. facility in Henrico County, creating 10 jobs. Rose Holm produces threaded bolts for the food and beverage, wind power and heat exchange industries in Northern Europe. The new operation will allow the company to further its […]
Va. to expand networking program to new regions
During the next two years Virginia will invest $1.7 million to expand the Network2Work workforce development initiative, Gov. Ralph Northam announced Tuesday. The commonwealth will partner with the Virginia Community College System to pilot the Network2Work model in the Shenandoah Valley, Hampton Roads and greater Richmond regions. Network2Work was established by Piedmont Virginia Community Colleg[...]
A large data center could have $50M annual impact on SWVA, study finds
Southwest Virginia is well-positioned for data centers and a large data center could result in more than 2,000 jobs and $50 million in annual economic activity, according to the Project Oasis study conducted by OnPoint Development Strategies and released Monday by InvestSWVA. Due to its land availability, geothermal cooling opportunities and workforce readiness and development, […]
Mount-It! to invest $7.45M in Prince George operation
Gov. Ralph Northam announced Thursday that mounting solutions distributor Mount-It! will invest $7.45 million to establish its first East Coast warehouse and distribution facility in Prince George County, creating 85 jobs. Mount-It!, which provides more than 500 types of mounting products, will be located in the former Quality Way building in Prince George County. Virginia […]
Va. offshore wind industry could create 5.2K jobs, study finds
The offshore wind industry could create up to 5,200 jobs in Virginia (with a majority in Hampton Roads) and an estimated $740 million in total economic activity during the next several years, according to an economic impact analysis conducted by Henrico County-based Mangum Economics and released Tuesday by the Hampton Roads Alliance. Richmond-based Dominion Energy […]
Hitachi AAB Power Grids expanding in Bland County
Hitachi ABB Power Grids will invest $6.2 million to upgrade equipment and increase manufacturing capacity at its operations in Bland County, where it is the county’s largest private-sector employer. The expansion will add 40 jobs, Gov. Ralph Northam announced Monday. “Hitachi ABB Power Grids has made tremendous contributions to Southwest Virginia and the commonwealth for […]
Va. Beach Economic Development, 1701 Coworking select entrepreneurship program participants
Virginia Beach Economic Development and Virginia Beach-based 1701 Coworking announced Friday it has selected two participants for its three-month Entrepreneur-in Residence (EIR) program. Kate Johnson with Heritage Business Services and freelance educator Meghan Raftery were selected for the program, which provides training in hiring, strategic planning and other business practices. “The entr[...]
Northam expands $70M Rebuild VA program
Gov. Ralph Northam announced Monday that the $70 million economic recovery program Rebuild VA is expanding its eligibility criteria to allow more small businesses to apply for economic relief grants. Under the Rebuild VA program, which launched in August, businesses that received federal CARES Act funding are now eligible to receive up to $10,000 in […]
Four Va. localities earn Main Street designation
Gov. Ralph Northam announced Wednesday that the towns of Cape Charles, Onancock, Tappahannock and Tazewell have joined the Virginia Main Street Program, which, through the Department of Housing and Community Development (DHCD), provides services to strengthen downtown communities. Designated towns must participate in an application process to receive services including market analysis, marketplace[...]
Academy launched to help 20 NoVa tech firms pivot for COVID-19
McLean-based Amplifier Advisors and a group of university, government, corporate and community partners on Tuesday announced the launch of the Tandem Product Academy, which will assist a cohort of 20 Northern Virginia tech companies to pivot their business models to respond to the COVID-19 economy. The four-month program, set to start on Oct. 21, is […]
Economic Development
TAYLOR ADAMS DIRECTOR, VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT VIRGINIA BEACH Under Adams’ leadership, Virginia Beach has seen several company expansions and relocations over the last year, even in the current economic crisis. In June and July alone, nine companies announced they would either locate facilities or expand in the city. Ranging from manufacturing and […]
Former Volvo Trucks exec launches commercial vehicle company
The former chief operating officer for Volvo Trucks North and South America, Patrick Collignon, announced Wednesday that he has launched Trova Commercial Vehicles (TrovaCV), located in Pulaski County’s Fairlawn area. The company will focus on the engineering, design and production of fully electric commercial vehicles, with a goal to achieve cost-effective mass production. “This is [&helli[...]
