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Ship repair company building $64.4M Newport News campus
S23 Holdings LLC, a maritime company focused on ship repair and manufacturing, plans to locate its corporate and industrial campus in Newport News, Gov. Ralph Northam announced Tuesday. The company, which includes among its affiliates East Coast Repair and Fabrication (ECR), will invest $64.4 million and is expected to create 332 jobs. ECR already has […]
Calif. tech firm’s $12.4M Va. relocation will create 700 jobs
Calabasas, California-based tech and professional services company ASGN Inc. will invest $12.4 million to move its corporate headquarters and operations to Virginia, creating a total of 700 jobs, Gov. Ralph Northam announced Monday. “The creation of 700 new jobs is critical as we work to rebuild and strengthen our economy from the impacts of COVID-19,” […]
$14.66M in GO Virginia funds redirected to COVID-19 recovery initiative
More than $14.66 million of Growth and Opportunity for Virginia (GO Virginia) funding for economic development has been redirected to a new Economic Resilience and Recovery Program in response to COVID-19-related economic impacts, Gov. Ralph Northam announced Monday. “The COVID-19 pandemic has had an unprecedented impact on our economy, and we must use every asset […]
FerraTex to buy Henry County facility for $1.95M
FerraTex Solutions LLC will purchase the former Compton Woods Products facility in Bowles Industrial Park in Henry County for $1.95 millon, Gov. Ralph Northam announced Thursday. FerraTex, which specializes in services and liners for cured-in-place pipes (a method of repairing existing pipelines), will renovate and expand the facility, adding 15 jobs. “As we work to […]
Coffee roasting company to build Suffolk distribution center
Massimo Zanetti Beverage USA Inc. (MZB-USA) announced Thursday it will build a 355,933-square-foot distribution center in Suffolk to support its headquarters and main coffee roasting operations in Portsmouth. The distribution center will be located in the Virginia Port Logistics Park, which is located approximately 30 miles from the Port of Virginia. Construction on the warehouse […]
Va. Beach defense contractor to create 100 jobs
Virginia Beach-based defense contractor Valkyrie Enterprises Inc. announced Friday it has received a $125,000 grant from the Virginia Beach Development Authority (VBDA) to aid in its planned expansion by 100 full-time jobs during the next three years. “Valkyrie Enterprises epitomizes the real value of these grants,” Economic Development Director Taylor Adams said in a statement. […]
Greater Washington Partnership names CEO
The Greater Washington Partnership (GWP) announced Wednesday that JB Holston will become the organization’s CEO in September. Founded in 2017, GWP is an alliance of 27 CEOs and business leaders in the region that focuses on economic development for the greater Washington region, including parts of Northern Virginia, Richmond and Baltimore. Holston succeeds the organization’s […]
Fairfax County board ponders $30M COVID-19 relief program
The Fairfax County Board of Supervisors on Tuesday will consider launching a small business and nonprofit relief grant program that could disperse up to $30 million to local businesses impacted by the COVID-19 pandemic. The proposed guidelines would allocate $10,000 to businesses with one to 10 employees, $15,000 to businesses with 11 to 25 employees […]
D.C./Va./Md. COVID-19 task force forms for economic strategy
Connected DMV, a regional nonprofit collaboration in Northern Virginia, Washington D.C. and Maryland, announced Thursday it has formed a 45-person COVID-19 Strategic Renewal Task Force to make formal recommendations for addressing short-term and long-term COVID-19-related economic recovery. Founded in 2019, Connected DMV focuses on economic development in Virginia, Washington, D.C., and Maryland. [...]
Floyd County EDA receives $2.3M federal grant for growth center
The Floyd County Economic Development Authority announced this week it has received a $2.3 million grant from the U.S. Economic Development Administration to construct the first building for the Floyd Growth Center, a shared space in the Floyd Regional Commerce Center for small industrial companies. Different from a small business incubator, the center will allow […]
Norfolk buys former Military Circle hotel for $2.4M
Less than a week after Norfolk announced its purchase of the Military Circle Shopping Mall for $11 million, the Norfolk Economic Development Authority (EDA) said Thursday it has also approved a plan for the city to purchase the former DoubleTree Hotel at Military Circle for $2.4 million. The hotel property was listed for sale for […]
Developers propose $350M tower to replace Richmond Public Safety Building
The development team that created plans for the failed $1.5 billion Navy Hill proposal in downtown Richmond has returned to the scene, this time with a lower-stakes proposal that would not require funding by the city, a sticking point in the earlier plan. Capital City Partners LLC, the partnership between Michael Hallmark of Los Angeles-based […]
