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Warner worried about Microporous $100M grant
U.S. Sen. Mark Warner, Virginia’s senior Democratic senator, is worried about the possibility of the Trump administration clawing back a $100 million federal grant awarded by the U.S. Department of Energy (DOE) to Microporous, the Tennessee company planning to invest $1.3 billion to build a lithium-ion battery separator facility at the Southern Virginia Megasite at […]
Danville-Pittsylvania authority invests in history
Using a $1.89 million loan from the Virginia Small Business Financing Authority, Danville and Pittsylvania County officials plan to purchase about 289 acres adjacent to the Southern Virginia Megasite at Berry Hill. Members of the Danville-Pittsylvania Regional Industrial Facility Authority (RIFA) unanimously agreed in January to move forward with purchasing the land at 5981 Berry […]
Sheet metal plant begins construction in Frederick
Chantilly-based sheet metal products manufacturer ZM Sheet Metal plans to relocate its Frederick County operations next year into a new 160,000-square-foot industrial building in Stonewall Industrial Park. ZM Sheet Metal, which specializes in services for HVAC manufacturers and ductwork, currently operates a 100,000-square-foot manufacturing plant at 260 Lenoir Drive in Frederick. The company prim[...]
All in good time
For decades, the promise of economic revitalization has tantalized Southwest Virginia. The sparsely populated region, once home to booming coal mining and tobacco industries, has had money and resources thrown at it by local, state and federal governments, but it’s still had a difficult time finding its footing. As the region’s economy has declined, so […]
Amazing race
Virginia is reaping thousands of jobs and huge tax revenues as Amazon.com revamps its U.S. delivery network. The e-commerce giant is opening major distribution centers and sorting facilities across the commonwealth as part of its nationwide strategy to get goods to consumers faster and stay one step ahead of competitors like Walmart and Target that […]
40 acres in Spotsylvania sell for $6.36M
Close to 40 acres in Spotsylvania County sold for $6.36 million, according to a May 29 news release from Cushman & Wakefield | Thalhimer. WorkSpace Property Group purchased 39.8 acres at 0 Northeast Drive from Cosner Industrial Park for future industrial development. WorkSpace Property Group is registered to an address in Great Falls. According to […]
Chesapeake preps 1,400-acre industrial park
Whenever a big economic development announcement from another state pops up in the news, Hampton Roads Alliance President and CEO Doug Smith can count on his phone ringing. “I get a call from somebody saying, ‘Why didn’t we get that?’” says Smith. “And the answer is real simple: We didn’t have 500 acres or 1,500 […]
Dickenson County to develop small industrial park
Work will start on a new industrial park on the site of a former strip mine in Dickenson County in late summer or early fall, says Dana Cronkhite, the county’s economic development director. The Virginia Department of Energy announced in January that the county’s Industrial Development Authority will receive $869,584 from the federal Abandoned Mine […]
Lynchburg area needs more industrial sites
Megan Lucas knows all too well that no product means no project in economic development, especially when it comes to pad-ready sites and move-in-ready buildings. The lack of pad-ready sites and industrial spec buildings in the Lynchburg region is the major reason the area has missed 65 economic development opportunities that could have brought as […]
Youngkin to propose $350M for site development
Gov. Glenn Youngkin will propose allocating a new $350 million investment for industrial site development next week, the governor said in a speech delivered Friday at the Virginia Chamber’s Virginia Economic Summit & Forum on International Trade. In the 2022-24 budget, which Youngkin signed in June, the state allocated $150 million for the Virginia Economic […]
Wise County IDA buys vacant office building for $1.2M
The Wise County Industrial Development Authority purchased a vacant office building in the Lonesome Pine Regional Business and Technology Park with a $1.2 million loan from the Virginia Coalfield Economic Development Authority, officials announced Wednesday. The 10,000-square-foot building sits on approximately 4.63 acres at 5957 Windswept Blvd. and came furnished. The building is adjacent to [&he[...]
Albemarle’s industrial age
In Albemarle County, industrial space, not office or retail, “has been the bright spot in commercial real estate” in terms of demand, says Lisa Sturtevant, research leader at Bright MLS Inc. “All of a sudden, there’s been a big rush for industrial space,” she says, but adds, “Good luck in finding it right now.” Albemarle […]
