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Port of Va. had $100B+ economic impact in FY21
Amid some of the toughest months of the pandemic, the Port of Virginia set cargo records, processing more than 3.2 million TEUs (20-foot equivalent units) for the fiscal year ending June 30, 2021, and generating more than $100.1 billion in ancillary economic impact, according to the port‘s fiscal 2021 economic impact report released Thursday. According […]
Va. economic growth will slow in 2022, ODU economists predict
Virginia’s economy is likely to grow at a slightly slower pace in 2022 than it did last year, with the COVID-19 pandemic continuing to make future predictions murky, according to the 2022 Annual Economic Forecast released Wednesday by Old Dominion University’s Dragas Center for Economic Analysis and Policy. “If we can control COVID-19, the economy […]
Recycling joint venture to create 210 jobs in Chesapeake
Two sustainable development companies — New Jersey-based Kamine Development Corp. and Minnesota-based Nicollet Industries LLC — will invest $267 million to establish a joint venture paperboard recycling and production facility in Chesapeake, a project expected to create 210 jobs, Gov. Ralph Northam announced Tuesday. The 335,000-square-foot Celadon Development Corp. facility will be at the Che[...]
Canadian frozen food company to create 67 jobs in Warren County
Montreal-based Nature’s Touch Frozen Foods LLC will spend $40.3 million to expand in Warren County, creating 67 jobs, Gov. Ralph Northam announced Tuesday. Harrisonburg-based InterChange Group Inc. will build a 126,000-square-foot facility for Nature’s Touch. The company will import raw materials directly to the new facility for processing and distribution. In 2014, Nature’s Touc[...]
Sugar alternative company to create 64 jobs in Albemarle County
Virginia sugar alternatives company Bonumose Inc. will invest $27.7 million to expand in Albemarle County in a partnership with The Hershey Co. to research and develop reduced or zero sugar chocolate products, creating 64 jobs, Gov. Ralph Northam announced Thursday. Bonumose will move into 36,000 square feet in the former State Farm building to increase […]
Italian meat company bringing 150 jobs to Rockingham County
Italian cured meats manufacturer Veronesi Holding S.p.A., a Gruppo Veronesi company, will invest approximately $100 million to establish its first U.S. production facility in Rockingham County, creating an estimated 150 jobs over the next four years, Gov. Ralph Northam announced Thursday. The facility will be located on 75.8 acres in the Innovation Village @ Rockingham […]
Manifest destiny
Taking on a new job during a pandemic could spell rough waters, particularly if the job relies on global commerce. But the past eight months largely have been smooth sailing for Stephen Edwards, the new CEO and executive director of the Virginia Port Authority, which oversees the Port of Virginia. Edwards came onboard in January, […]
Transportation
ED ALDRIDGE PRESIDENT, CMA CGM AMERICA LLP AND APL NORTH AMERICA, NORFOLK Aldridge took over as president of CMA CGM America in June 2020, and he has served as president of CMA CGM subsidiary North America, the nation’s oldest ocean carrier, since 2017. In February, the French company announced the $36 million expansion of its […]
Dominion Energy and Port of Va. reach lease agreement for offshore wind project
Dominion Energy Inc. and the Port of Virginia reached an agreement allowing Dominion to lease 72 acres of the Portsmouth Marine Terminal, Gov. Ralph Northam announced Wednesday. Dominion Energy will use its portion of the 287-acre terminal, one of the Port of Virginia‘s two multiuse terminals in the Norfolk Harbor, as a staging and pre-assembly […]
Richmond snack company investing $16.5M in Henrico facility
Richmond-based specialty snack supplier Red River Foods Group Inc. will invest $16.5 million to establish a warehouse and processing facility in Henrico County, creating 60 jobs, Virginia Gov. Ralph Northam announced Monday. Virginia competed with Maryland, New Jersey and Pennsylvania for the project. The center will process tree nuts, seeds and dried fruits and will […]
Authority of the port
In January, Stephen Edwards became the new CEO and executive director of the Virginia Port Authority, which oversees the Port of Virginia. The former CEO of Los Angeles-based TraPac, which operates container terminals in California and Florida, Edwards succeeds John Reinhart, who retired after seven years at the authority’s helm. During his tenure, Reinhart steered […]
International logistics company announces $61M Norfolk expansion
Katoen Natie Norfolk Inc., a plastics and polymers warehousing and distribution company, plans to expand its operation in Norfolk, investing $61 million and creating 35 jobs, the governor’s office announced Tuesday. A subsidiary of Belgian logistics service provider Katoen Natie, the Norfolk company was established in 2011 at the former Ford Motor Co. assembly plant […]
