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economic development

Nov 20, 2020

Vinton, Warsaw, Wytheville receive industrial revitalization funding

The towns of Vinton, Warsaw and Wytheville will receive a total of more than $1.4 million in state industrial revitalization fund (IRF) grants, Gov. Ralph Northam announced Friday. IRF funding provides gap financing for redevelopment projects that can lead to long-term employment opportunities. “This funding will not only help transform deteriorating or unused structures, it […]

Nov 19, 2020

Va. Coalfield Economic Development Authority establishes $1M Renewable Energy Fund

The Virginia Coalfield Economic Development Authority (VCEDA) announced Thursday it has established a $1 million Renewable Energy Fund from coal tax credit funds.  “With the establishment of the Renewable Energy Fund, VCEDA is poised to readily assist in the development of renewable energy projects, which will add new jobs and investment to the region and […]

Nov 17, 2020

Packaging manufacturer announces $68M expansion in Louisa, Wythe

Packaging manufacturer Klöckner Pentaplast Group (kp) will invest $68 million to expand its facilities in Louisa and Wythe counties, creating 54 jobs, Gov. Ralph Northam announced Tuesday. Founded in 1965 Montabaur, Germany, Klöckner Pentaplast Group manufactures packaging for pharmaceutical, medical device, food, beverage and card clients. The company has operations in 18 countries and employs [...]

Nov 16, 2020

More than $1.9M in grants going to Va.’s tourism industry

While COVID-19 continues to slam the tourism and hospitality industries, Gov. Ralph Northam announced Monday that more than $1.9 million in matching grants will be disbursed among 161 local tourism initiatives as part of Virginia Tourism Corp.’s Recovery Marketing Leverage Program (RMLP). Although Virginia’s tourism industry had another record year in 2019, posting $27 billion [&hellip[...]

SPIG Industry founders Joshua (left) and Chris Harman
Nov 12, 2020

SWVA guardrail manufacturer announces $7.9M expansion

Nine months of hard work has paid off. Since February, InvestSWVA has been working with highway guardrail manufacturer SPIG Industry LLC on its expansion plans, and on Thursday Gov. Ralph Northam announced the Washington County-based company’s plans to invest $7.9 million to expand its operations in the Bristol-Washington Industrial Park, creating 113 jobs. Formed in […]

Kevin Hughes. Photo courtesy city of Suffolk
Nov 10, 2020

City of Suffolk announces leadership overhaul

Following the late September resignation of former Suffolk City Manager Patrick Roberts, interim City Manager Albert Moor on Monday made several appointments to the administrative staff, including an acting deputy city manager.  Suffolk City Council accepted Roberts’ resignation during a special meeting after a closed session. The reason for his resignation was not released. After […[...]

Nov 3, 2020

GO Virginia funds $9M in workforce development, economic recovery grants

The Growth and Opportunity for Virginia (GO Virginia) state economic development initiative has allocated grants totaling more than $9 million for workforce development and assisting communities with economic recovery, Virginia Gov. Ralph Northam announced Tuesday. A $7.8 million allocation will support 11 regional projects and two statewide projects aimed at workforce development initiatives. Ano[...]

Nov 2, 2020

$1.2M grant approved for Dickenson County industrial site

A grant for up to $1.2 million in infrastructure improvements to the Red Onion Industrial Site in Dickenson County was recently approved by Virginia Coalfield Economic Development Authority board. The funds, which will be given to the Dickenson County Industrial Development Authority, will be used to help finance site grading, site development, access road construction […]

Rendering of new Volkswagen Group of America headquarters at Reston Town Center. Rendering courtesy Volkswagen Group of America
Oct 28, 2020

Volkswagen Group of America deepens its Fairfax roots

Automobile manufacturing giant Volkswagen Group of America Inc. (a wholly owned subsidiary of Volkswagen AG) announced Tuesday it has chosen to keep its headquarters in Fairfax County — signing a 20-year lease agreement in Reston Town Center.  Volkswagen’s North American headquarters has been located in Fairfax County since 2007. It will be the anchor tenant in […]

Oct 26, 2020

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 [&h[...]

Economic Development
Oct 23, 2020

Lara Fritts resigns from Greater Richmond Partnership

Lara Fritts has resigned as president and CEO of the Greater Richmond Partnership, according to an email sent to the public-private economic development organization’s investors this week. Her resignation is effective as of Nov. 30, and she will be serving actively in the role until that time, according to a spokesperson. Fritts joined the organization […]

Oct 21, 2020

Loudoun County allocates additional small business funding

The Loudoun County Board of Supervisors has allocated an additional $145,000 to fund 29 more businesses with $5,000 COVID-19 Business Interruption Fund grants, Loudoun Economic Development announced Wednesday. The additional allocation will allow the fund to cover all 660 certified eligible businesses that applied for the county’s fifth round of COVID-19 small business relief funding. [&hell[...]

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