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Richmond’s $1.5B Navy Hill project is dead
Richmond City Council on Monday formally killed the $1.5 billion Navy Hill proposal, with seven of nine members voting to strike several elements of the plan from the council’s consent agenda. After the vote, council members passed a resolution that Richmond Mayor Levar Stoney start over with a request for proposals to develop the area […]
VCU Health proposes medical complex as part of Navy Hill project
The $1.5 billion Navy Hill project — as proposed — may be killed next Monday by Richmond City Council, but that hasn’t stopped Virginia Commonwealth University and other heavy hitters from making economic development announcements in an effort to salvage the controversial project. VCU Health System announced Tuesday that it would build a complex in […]
Mack Trucks plant in Roanoke County to create 250 jobs
Gov. Ralph Northam announced Thursday that Mack Trucks will create 250 jobs at a Roanoke County facility building a new line of medium-duty trucks. The company, part of the Volvo Group, plans to invest $13 million in the project, according to state and county officials. The plant, to be known as Mack’s Roanoke Valley Operations […]
Blue Ridge Designs LLC invests $2M to expand Southwest Va. operations
Carroll County-based screen-printed apparel manufacturer Blue Ridge Designs LLC will invest $2.28 million to expand its operations, creating 118 jobs, Gov. Ralph Northam announced Wednesday. Blue Ridge Designs was established in January 2019 and manufactures screen-printed apparel with watercolor ink. Since January 2019, the company has purchased six presses and three dryers, hired 80 employees [...]
Cybersecurity firm Expel adding 164 jobs in Fairfax
Expel Inc., a managed cybersecurity provider, is investing $1.4 million to expand its Herndon headquarters, creating 164 jobs in engineering, customer experience, IT, marketing and sales during the next three years. “Virginia has emerged as a national leader in cybersecurity and continues to be at the forefront of workforce development in this rapidly evolving industry, […]
Richmond-based investment nonprofit to manage $33M guarantee pool
Richmond-based LOCUS Impact Investing, a subsidiary of Virginia Community Capital, will manage a newly formed $33.1 million national guarantee pool to encourage community development, according to a press release Tuesday. The Community Investment Guarantee Pool has $33.1 million in unfunded guarantee commitments from the endowments of 10 philanthropic organizations, which help mitigate investment [...]
State announces $18.3M in broadband grants
The Virginia Telecommunication Initiative (VATI) will award more than $18.3 million in grants to 12 broadband expansion projects in the state, mainly in rural areas, Gov. Ralph Northam announced Wednesday. The grants are expected to connect about 36,000 households, according to a press release. The governor’s proposed 2020-21 budget adds $16 million to the $19 […]
Here’s the tea: Traditional Medicinals to invest $29.7M in Franklin County
Rohnert Park, California-based wellness tea company Traditional Medicinals Inc. will invest $29.7 million to establish its East Coast operation, an herbal tea manufacturing and processing plant, in Franklin County’s Summit View Business Park, creating 56 jobs, Gov. Ralph Northam announced Tuesday. The company will build a 125,000-square-foot facility for production of its organic and herbal [...]
Pennsylvania warehousing company invests $12M in Pulaski County operation
Milton, Pennsylvania-based warehousing company The Patton Logistics Group will invest $12 million to establish a logistics and warehousing operation in the New River Valley Commerce Park in Pulaski County, creating 33 jobs, Gov. Ralph Northam announced Tuesday. Virginia competed with North Carolina for the project, which will create a hub for motor carrier freight services […]
Local Initiatives Support Corp. names new Va. executive director
The Local Initiatives Support Corporation (LISC) has selected Jane Ferrara as executive director of LISC Virginia, a nonprofit organization that raises capital and creates programs to support community revitalization and economic development. Ferrara starts the new position Feb. 3. LISC has raised more than $32 million locally and has invested $639 million into Richmond-area housing, […]
CoStar plans doubling Richmond workforce as part of Navy Hill development
CoStar Group, the Washington, D.C.-based commercial real estate analysis company, announced Monday it plans to build a 400,000-square-foot building in downtown Richmond, doubling its local workforce, as part of the proposed $1.5 billion Navy Hill development. CoStar would double its number of employees to 2,000 in Richmond, where it already employs nearly 1,000 people, according […]
Pamunkey tribe, city sign Norfolk casino agreements
The city of Norfolk and the Pamunkey Indian Tribe announced Monday that the tribe’s proposed $700 million casino along the Elizabeth River is moving closer to reality. According to a tribe press release Monday, the Pamunkey and the city have signed two agreements: an option to purchase 13.4 acres of undeveloped city property adjacent to […]
