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Tag: Henrico County Economic Development Authority

Henrico EDA program will help international businesses get foothold

The Henrico Economic Development Authority is launching a global business gateway program for internationally headquartered companies seeking to establish a presence in the United States.

The Henrico Global Business Gateway, which the EDA announced Tuesday, will provide international businesses with office space for up to three staffers each in the upcoming Gather Workspaces coworking location at Innsbrook, set to open in early 2025, as well as wraparound business services.

“The idea is that they would have a home for 12 to 18 months,” said Anthony Romanello, executive director of the Henrico EDA. “And then, as they bring people on, as they sort of grow their U.S. business, they would move into a larger facility, hopefully in Henrico but certainly somewhere in the Richmond region.”

Richmond-based Gather, which has coworking properties in Hampton Roads and the greater Richmond area, is currently renovating the interior of its roughly 19,000-square-foot space at 4101 Cox Road. Raleigh, North Carolina-based Highwoods Properties, an office real estate investment trust, is its landlord.

“The idea with going in with Gather is that they’ve got a whole ecosystem,” Romanello said. “They’ll be there with other businesses. There’s coffee and telephones and conference rooms and a Xerox machine and all kinds of access to services, so you walk in, and it’s ready to go. The other thing is that there’ll be the opportunity for B2B because they would be in there with other businesses.”

The Henrico EDA is signing a membership with Gather, reserving 20 seats for the gateway. Under the two-year agreement that the EDA can renew, it will pay about $110,000 a year. Similar to subleasing, companies in the gateway will then join Gather as members under the EDA, paying it a subsidized rate.

“We are excited to have the Henrico Global Business Gateway join our newest community,” Gather CEO Doug White said in a statement. “Gather West End will provide these entrepreneurs with the environment needed to continue their growth and development. We are honored to partner with Henrico EDA on this important endeavor.”

The Henrico EDA will work with partners to offer wraparound services for companies in the gateway, including:

  • Business consulting services like market research, search engine optimization and website marketing services;
  • Professional services like legal counsel, immigration consulting, and marketing, accounting and real estate services;
  • Specialized workforce partners for recruiting and hiring staff;
  • Business development organizations and networking;
  • Startup community and capital/financing partners;
  • And tailored relocation assistance for company leadership or staff and their families.

The EDA is gathering partners in preparation for the gateway’s 2025 launch, although Long & Foster Real Estate is already on board to help with relocation services.

The first gateway program participant will be African fintech firm Rego.

“We are profoundly humbled to be the pioneering participant of the Henrico Global Business Gateway,” Yogo Dubois, founder and CEO of Rego, said in a statement. “Henrico’s strategic location, conducive business environment, proactive governance and the extensive support from the Henrico Economic Development Authority have been instrumental in the process of our establishment in the beautiful county of Henrico.”

Although localities elsewhere have “soft landing” programs similar to the Henrico Global Business Gateway, Henrico’s program has distinguishing factors, Romanello said.

“Where ours really stands out is the partnership with Gather and that we would be putting our new international companies in a coworking environment so that they’ve really got that opportunity for B2B interaction,” Romanello said, “and we’ve really got this whole suite of wraparound services that we’re going to be able to provide them.”

Henrico EDA buys $3M golf course, plans $11M renovation

Henrico County’s economic development authority has purchased The Crossings Golf Club for $3 million, and with partners Pros Inc. and the Henrico Sports & Entertainment Authority, it plans to pitch the course as the new home for a PGA Tour Champions golf event held at the Country Club of Virginia.

Pros Inc. expects to invest $11 million to renovate the Glen Allen course, according to Pros Inc. President Giff Breed.

In December 2023, Richmond-based Fortune 500 utility Dominion Energy and The Country Club of Virginia announced they would end their involvement with the PGA Tour Champions’ Dominion Energy Charity Classic after its 2025 event. CCV has hosted the annual tournament and Dominion has been its sponsor since 2016, with 72 pro golfers 50 and older competing for a $2.2 million purse.

The October 2023 event generated $34 million in economic impact for the area, according to a Mangum Economics study — making it a major boon for the county.

Aiming to keep Henrico as a PGA Tour Champions stop, the county’s EDA acquired on Thursday the 268-acre, 18-hole Crossings course from a limited liability company connected to Matthew Hall, who owns Meadowspring Turf Farm. The EDA has a 20-year lease agreement with sports marketing firm Pros Inc., which operates the Independence Golf Club in Powhatan County, for $1 a year. In turn, Pros Inc. is responsible for raising the funds to renovate the course and overseeing all operations.

The entities also have a revenue-sharing agreement, and a portion of revenue each year will go to a fund for future maintenance and upgrade costs.

“We appreciate the shared vision of all involved to reimagine this facility with an eye on the future to provide a championship-caliber course for residents, visitors and special events. We look forward to working with Pros Inc. on strategy and building on a legacy of golf in Henrico that is deep and will complement the development and popularity of the game,” Dennis Bickmeier, executive director of the Henrico Sports & Entertainment Authority, said in a statement.

The Crossings opened in 1960 as Ethelwood Golf Course. In the early 1970s, it operated as a public course called Half Sink Golf Course. Then, a portion of the course was removed to accommodate construction of Interstate 295, according to a news release, and the course known as The Crossings Golf Club opened in 1979.

Pros Inc. will immediately begin renovations on the course to be ready for the PGA event to be held in October 2026.

The course currently has a number of issues, including overgrowth, Breed said. Trees need to be removed to create proper corridors for play and to let grass thrive. The course needs new drainage and irrigation. And, its grass is an outdated turf, and Pros will need to put a new type of grass in. The new grass will also need a growing season to get established.

“We would have started on Friday, if not for [Tropical Storm Debby], so we’ll start on Monday, because we need growing seasons and there’s just so much work to do that we have to start ASAP if we’re going to be ready by October of 2026,” Breed said.

The PGA tour is working on finding a new sponsor for the event, and Pros wants to offer naming rights for the course to help raise money for the renovations, Breed added.

“As we saw with the 2023 Dominion Energy Charity Classic’s $34 million economic impact, having a golf course of this caliber in Henrico can provide a significant boost to the greater Richmond region’s economy and, potentially, a new home for PGA Tour sanctioned events,” Steve Schoenfeld, a senior director with the PGA Tour and executive director of the Dominion Energy Charity Classic, said in a statement.

Busy corridor

The Crossings course is near the interstates 95 and 295 interchange in Glen Allen. The $2.3 billion GreenCity development is underway across I-295 from the golf club, and the $50 million Henrico Sports & Events Center, opened in December 2023, is nearby off I-95.

“It’s really an opportunity for the county to capitalize on the really phenomenal work that we’re already doing with sports tourism and tourism in Henrico,” said Anthony Romanello, executive director of the Henrico EDA. “This is another asset that we’re able to leverage.”

What the county EDA and the Sports & Entertainment Authority are “envisioning is that there might be packages where you come to a tournament at the Sports & Events Center, and as part of the package, there’s rounds of golf,” he said. “We envision that … there could be college golf tournaments at this course, high school golf tournaments at this course.”

The lease agreement includes access for Henrico County Public Schools. Additionally, the golf course will benefit area schools by offering training opportunities. Pros Inc. has worked with local colleges for capstone courses and sports marketing independent studies at the Independence course, Breed said, and plans to expand those opportunities to the Crossings course.

There’s also a chance that the Henrico course could see Tiger Woods play. One of the most famous and successful golfers in history, Woods turns 50 on Dec. 30, 2025, and has hinted he’s interested in playing on the Champions Tour, according to Golfweek reporting.