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Staunton Crossing industrial site gets ready for business
A $9 million state grant is helping Staunton reach the finish line on Staunton Crossing, its long-awaited industrial site. The state Virginia Business Ready Sites Program (VBRSP) development grant awarded Aug. 8 will help pay for a 1 million-gallon water tower and water supply lines, which will help complete water and sewer access to the 300-acre site. […]
Pittsylvania site is top contender for lithium-ion battery plant
The Southern Virginia Megasite at Berry Hill in Pittsylvania County is the top contender for a lithium-ion battery manufacturing project that could top $1 billion in investments and about 1,500 jobs, according to its CEO. After a $100 million grant for the project was announced by the U.S. Department of Energy Nov. 27, 2023, Tennessee-based […]
Lego breaks ground on $1B Chesterfield facility
The Lego Group broke ground Thursday on its $1 billion Chesterfield County manufacturing facility — launching the Danish toymaker’s first U.S. manufacturing plant and one of Virginia’s biggest economic development projects. The Billund, Denmark-based toy company known for its brightly colored plastic toy bricks and construction sets plans to hire 1,761 people to work at […]
Making the grade
For Virginia Gov. Glenn Youngkin, this is the state’s rebuilding era. Although his Democratic predecessor, Gov. Ralph Northam, trumpeted Virginia’s unprecedented consecutive two-time run as CNBC’s Top State for Business, Youngkin has been critical of the state missing out to our Southern neighboring states on big manufacturing deals because of Virginia’s dearth of project-r[...]
March 2023 Top Five
The top five most-read daily news stories on VirginiaBusiness.com from Jan. 14 to Feb. 13 included Gov. Glenn Youngkin’s controversial decision to prevent a Ford electric battery factory from coming to Southern Virginia over worries about the project’s ties to China. The plant instead will be locating in Michigan, about 100 miles west of […]
21 Va. industrial sites awarded $90M for development
Virginia Gov. Glenn Youngkin announced $90 million in grants for the development of 21 industrial sites across the state Monday, helping localities get shovel-ready for big economic development projects. The two biggest winners are Chesterfield and Henry counties, which received $25 million and $22.2 million respectively from the Virginia Business Ready Sites Program (VBRSP), which […]
Site Selection ranks Va. 1st for biz climate
Virginia rose to first place in Site Selection magazine’s 2022 Business Climate Rankings. The commonwealth unseated North Carolina and ranked above Georgia, which had an eight-year streak in the top spot. Last year, Virginia was tied for 10th place. “I’m pleased that Virginia has won the best business climate; it’s incredibly exciting to see the […]
Va. officials woo chip manufacturers
U.S. Sen. Mark Warner and state and local economic development officials are vying to attract semiconductor chip manufacturing facilities to four Virginia industrial sites as the commonwealth gears up to fight for a piece of the financial pie from sweeping federal legislation that promises to ramp up chip production in the U.S. Representatives of Chesterfield, […]
AeroFarms sells its Cane Creek property
AeroFarms has sold its 138,670-square-foot property in Cane Creek Centre to MDH Partners and leased it back for 20 years, the companies announced June 1. MDH Partners bought the property at 1526 Cane Creek Parkway for $19.1 million and leased it back to AeroFarms. The industrial park where AeroFarms is located is jointly owned by […]
‘Behind the eight ball’
David Manley had a good feeling. The site visit was going well. During their spring 2021 tour of the Progress Park industrial site in Wytheville, the leaders of a manufacturer of nitrile gloves — those blue, disposable pieces of personal protective equipment that have become ubiquitous during the pandemic — seemed intrigued by the prospect of the […]
Lowe’s warehouse to create 70 jobs in Roanoke County
A new Lowe’s warehouse and distribution center is expected to create 70 jobs in Roanoke County, the $11 million project’s developer announced Monday. Lowe’s Cos. Inc. has hired Roanoke-based Cherney Development, in partnership with North Carolina-based Samet Corp., to build a 60,000-square-foot distribution warehouse and distribution center on an 8.45-acre site in Roanoke County&[...]
Need for speed
Geoff Poston likens the current market for building, buying and leasing warehouses and distribution centers to the mid-1800s California Gold Rush: Everybody wants in. Poston, vice president of Cushman & Wakefield | Thalhimer’s Hampton Roads industrial group, says demand has never been greater for industrial real estate, creating a tight market with low vacancy. “The […]
