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Tag: Virginia Economic Development Partnership

Lyon Shipyard to expand, adding 134 jobs

Lyon Shipyard, a 95-year-old family-owned ship repair facility in Norfolk, will spend $8.5 million to expand its operations and add an estimated 134 jobs, Gov. Glenn Youngkin announced Wednesday.

The shipyard plans to increase its capacity to work on commercial ships and vessels that will work on offshore wind farm operations. Virginia competed with Maryland and North Carolina for the project.

“Lyon Shipyard has been a leader in marine repair and industrial services in Norfolk for nearly a century, and its new investment will allow the company to service vessels integral to Virginia’s growing offshore wind industry,” Youngkin said in a statement. “We thank Lyon Shipyard for its long-term partnership with the commonwealth and advancing Virginia’s position as a leading state in this emerging sector on the East Coast.”

Established in 1928, Lyon has two facilities in Norfolk located on more than 30 acres along the eastern branch of the Elizabeth River. The company provides marine electronics repair, barge repair and pier side repairs and hauls vessels out of the water for underwater repairs to equipment including propellers, tail shafts and rudders. The company’s commercial customers include tug and barge operators, dredging and marine construction contractors, ferry and cruise ship operators, research vessels and commercial fishing companies. Its government customers include the Navy, Army, Coast Guard, Military Sealift Command and the Maritime Administration.

The company announced a $24.4 million expansion in 2021, during which it added 119 jobs, and it has received several Navy contracts this year, according to Pentagon records, including one for repair, alterations and maintenance for vessels that is valued up to $70 million through September 2027 if all options are exercised. The region is also home to Dominion Energy’s $9.8 billion Coastal Virginia Offshore Wind project.

“We want to be the change so many other companies just talk about — Lyon Shipyard wants to lead the charge and help transform the socioeconomical landscape for the city of Norfolk and its residents,” Nikole Dunkley, Lyon’s vice president of human resources, said in a statement.

The Virginia Economic Development Partnership worked with Norfolk and the Hampton Roads Alliance to secure the project for Virginia and will support Lyon Shipyard’s job creation through the Virginia Jobs Investment Program, which provides consulting and funding to companies creating jobs to support employee recruitment and training activities.

Va. trade office opens in Taiwan

Virginia has opened its trade office in Taiwan.

Announced in April, the office is Virginia’s fourth international trade office and follows Youngkin’s meeting with Taiwan’s president, Tsai Ing-wen, during the governor’s first international trade mission.

Virginia Secretary of Commerce and Trade Caren Merrick was joined by Liang-yu Wang, director general of Taiwan’s Department of North American Affairs in its Ministry of Foreign Affairs, as well as officials from the Virginia Economic Development Partnership for the opening ceremony in the country’s capital of Taipei Tuesday morning.

One employee will staff the office, VEDP spokesperson Suzanne Clark said in an email.

The Virginia-Taiwan Trade Office was established by Executive Order 25 to strengthen the business ties between Virginia and Taiwan, an island of 23 million people off the coast of China. The announcement also comes amid tense relations between the U.S. and China, and occurred just months after Youngkin pulled out of a $3.5 billion economic development deal that could have brought an electric vehicle battery plant to Pittsylvania County over concerns about China’s involvement in the deal.

“Taiwan represents a significant market for foreign direct investment and international trade, and the new Virginia-Taiwan Trade Office will strategically position the commonwealth for economic development opportunities,” Youngkin said in a statement. “We look forward to strengthening our partnership with Taiwan as we actively work to recruit Taiwanese companies and encourage trade with Virginia businesses.”

Virginia exported $730 million in products to Taiwan in 2022 and imported $1 billion in goods from the island. The Virginia-Taiwan Trade Office will offer services to help Taiwanese companies with opportunities in Virginia, bring investment and new jobs to the commonwealth and further open markets for Virginia products. A memorandum of understanding signed between Virginia and Taiwan in April also commits to collaboration in research, innovation and critical global industries such as consumer electronics.

Taiwan is a global leader in the semiconductor industry, and Virginia has launched a workforce initiative around growth for that sector in the state that includes businesses and academia.

VEDP also has trade offices in Germany, Japan and South Korea.

Economic Development 2023: JASON EL KOUBI

El Koubi has served as head of Virginia’s top economic development organization since March 2022, following a five-year stint as VEDP’s executive vice president. Part of the team that helped bring Amazon.com’s $2.5 billion-plus HQ2 East Coast headquarters to Arlington County, El Koubi continues to land big economic wins for the commonwealth, such as last year’s announcement that Lego Group would build a $1 billion toy manufacturing facility in Chesterfield County. His focuses also include tackling Virginia’s lack of project-ready industrial megasites.

A graduate of Louisiana State University and the London School of Economics and Political Science, El Koubi previously led One Acadiana, the former Greater Lafayette Chamber of Commerce in Louisiana, where he started a five-year, $15 million regional economic development program to expand businesses in the region. He also helped lead the Louisiana Economic Development organization to attract more than $28 billion in capital investment.

He serves on the Virginia Early Childhood Foundation board and the State Council of Higher Education for Virginia. 

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Polish glass fabricator expanding in Henry County

Poland-based Press Glass Inc. will spend more than $155 million to expand its operations in Henry County and add 335 jobs, marking the largest expansion in the county’s history, Gov. Glenn Youngkin announced Wednesday.

The largest independent glass fabricator in Europe, according to a news release, Press Glass will construct a 360,000-square-foot addition at its existing facility in the Commonwealth Crossing Business Centre in Ridgeway, where it manufactures glass for the commercial construction industry. The company currently employs more than 300 workers at the site, which it opened in 2020.

“With this expansion, Press Glass will make the largest single capital investment by a business in Henry County’s history,” Youngkin said in a statement. “The addition of 335 new jobs, more than doubling the company’s head count, helps this region continue its economic rebound and demonstrates the resurgence of manufacturing that is happening across the commonwealth.”

Press Glass was founded in 1991 and has 15 factories in Europe and the United States. The company processes glass for fabricators of windows and doors, facades and interior glass constructions.

“Our clients have trusted us and recognized the high quality of Press Glass products, so the expansion of the factory in Ridgeway is a natural step to increase the availability of our offerings and strengthen our position in the American market,” Press Glass President Maciej Migalski said in a statement. “After the expansion, the Ridgeway plant will be one of the largest and most automated facilities processing architectural glass in the USA. At the same time, we will create new, valuable job opportunities. We express our gratitude to the local leadership for their invaluable support.”

In January, Youngkin announced Commonwealth Crossing would receive about $22 million from the Virginia Business Ready Sites Program in an effort to grow the state’s inventory of project-ready industrial sites larger than 100 acres.

The Virginia Economic Development Partnership worked with the Martinsville-Henry County Economic Development Corp. to secure the project for Virginia, and Youngkin approved a $2 million grant from the Commonwealth’s Opportunity Fund to assist Henry County with the project. Funding and services to support the company’s employee training activities will be provided through VEDP’s Virginia Jobs Investment Program.

Charlottesville-based Virginia Diodes to expand, invest $2.5M

Virginia Diodes Inc. (VDI) will invest $2.5 million to expand its operations in Charlottesville, adding an estimated 24 jobs, Gov. Glenn Youngkin announced Thursday.

VDI was founded in Charlottesville in 1996 as a spinoff from the University of Virginia and in 2004 established its headquarters at the city’s Ix Art Park complex.  The company manufactures test and measurement equipment for millimeter-wave and terahertz (THz) applications like 6G wireless communications, automotive radar and weather sensing, as well as science applications including radio astronomy and fusion research and is part of the semiconductor industry supply chain.

VDI has customers in more 40 countries and employs more than 120 engineers, technicians and administrative staff at two locations. As part of its expansion, the company added its second location, on 5th Street SW, about 18 months ago, giving it a total of about 30,000 square feet of manufacturing space.

“Virginia Diodes’ long-term success in the city of Charlottesville demonstrates the extensive and expansive opportunities for growth in advanced manufacturing in the commonwealth,” Youngkin said in a statement. “VDI is a great example of the private sector partnering with our world-class universities like the University of Virginia to produce a winning formula that enables a startup to grow into a global enterprise.”

VDI Chief Operating Officer Gerhard Schoenthal told Virginia Business that the company plans to add the jobs announced Thursday during the next year. Roles include electrical engineers and electronics technicians.

The Virginia Economic Development Partnership worked with Charlottesville to secure the project for Virginia and will support Virginia Diodes’ job creation through the Virginia Jobs Investment Program, which provides consulting services and funding to companies creating jobs to support employee recruitment and training.

“VDI continues to work hard to expand millimeter-wave and terahertz technology for applications like 6G communications, automotive radar, weather sensing and radio astronomy,” VDI CEO and founder Thomas W. Crowe said in a statement. “We have been manufacturing and packaging electronic components and creating systems from those components in Charlottesville for nearly 27 years. We are proud to invest in Central Virginia’s workforce and very excited about the assistance we receive from the Virginia Jobs Investment Program. VDI relies on highly skilled engineers and technicians to produce its leading-edge terahertz products, and Charlottesville has proven to be an ideal location to recruit and maintain excellent technical staff.”

Henrico insurer to create 72 jobs in $6.2M expansion

Henrico County-based insurance company Berkley Insurance Co. will invest $6.2 million to expand its office in the county’s Innsbrook area, with plans to create 72 jobs, Gov. Glenn Youngkin announced Thursday.

A subsidiary of Connecticut-based Fortune 500 company W. R. Berkley Corp., the firm will lease an additional 8,920 square feet of office space from Highwoods Properties to accommodate growth in its Berkley Aspire, Berkley Mid-Atlantic Insurance Group and Verus Specialty Insurance businesses. The new jobs will include underwriters, financial analysts, accountants and C-suite positions, according to a news release. Currently, more than 177 employees are based in the Henrico office.

“Berkley Insurance Co.’s decision to expand in Henrico County demonstrates the continued positive momentum of Virginia’s economy and the business process services industry,” Youngkin said in a statement. “Greater Richmond is renowned for providing the robust talent pipeline that leading companies like Berkley Aspire, Berkley Mid-Atlantic and Verus Specialty require.”

Berkley Mid-Atlantic Insurance Group serves small and middle markets and focuses on six industries: construction, retail, service, wholesale, real estate and manufacturing. It has two additional offices, in Columbus, Ohio, and Pittsburgh.

“We are proud to confirm our expectation for growth and advancement within the Henrico County, Virginia, territory,” Berkley Mid-Atlantic Insurance Group President Michelle D. Middleton said in a statement. “As we reflect on the exceptional talent that Henrico has consistently provided for us, particularly in the realm of excess and surplus lines insurance, we are excited for the future. With the projected expansion, particularly of Verus Specialty and Berkley Aspire, we envision continued growth, bolstered by the incredible talent pool and the invaluable relationships we have cultivated with insurance brokers in this region. Henrico as a hub for our business expansion is undeniable, and we embrace the opportunities that lie ahead.”

The Virginia Economic Development Partnership worked with the Henrico Economic Development Authority to secure the project, which Virginia competed with Arizona and Ohio to secure. Youngkin approved $217,500 from the Commonwealth’s Opportunity Fund to assist the county. VEDP will support the insurer through its three-year Virginia Jobs Investment Program (VJIP), which provides cash grant reimbursements for associated human resources costs after a company has had new employees on the payroll for at least 90 days.

Berkley Insurance will be the fourth company to receive incentives through Henrico’s Innsbrook Technology Zone, which the county Board of Supervisors approved in April 2022. In it, new tech businesses that invest at least $1 million and create 10 jobs can qualify for waived county planning and permitting fees.

In November 2022, Genworth Financial subleased the former SunTrust Business Center near Innsbrook instead of building a new headquarters. In December 2022, BHE GT&S, a Berkshire Hathaway Energy subsidiary, moved its headquarters to the former Capital One Financial Corp. complex, which it purchased for $20.75 million, according to a news release. Education technology company EAB invested more than $6 million to relocate, consolidating its Richmond-area operations, in June 2022.

Henrico has a strong labor market for insurers, said Anthony Romanello, executive director of the Henrico County Economic Development Authority. In May, Richmond National Group Inc. announced an an expansion of its headquarters in the county, and in March 2022, Bermuda-based Hamilton Insurance Group Ltd. announced it would establish the U.S. headquarters of its subsidiary in Henrico.

“Henrico has a very strong presence of the insurance industry, and this kind of growth is exactly what we expect, and we’re especially excited to see additional investment in Innsbrook,” Romanello said. “…We have every reason to believe that Berkley and the other insurers are going to continue to see Henrico and Greater Richmond as an area where they’re going to want to continue to expand and continue to grow.”

Rail equipment manufacturer to expand in Salem

Wabtec Corp. is investing $2.7 million to expand its existing facility in Salem, adding 38 jobs, Gov. Glenn Youngkin announced Wednesday.

Headquartered in Pittsburgh, Wabtec provides equipment, systems, digital solutions and other services for freight and transit rail globally. The expansion will accommodate the relocation of its pneumatically controlled braking systems manufacturing lines within its Graham-White manufacturing facility in Salem.

Virginia competed with Missouri, Pennsylvania, South Carolina and Mexico for the project.

“Wabtec Corp.’s expansion of its Salem facility fuels the resurgence of high-quality manufacturing jobs in Virginia, and we thank the company for its long-term commitment to the commonwealth as a valued employer,” Youngkin said in a statement. “The Roanoke region offers the skilled workforce and custom solutions to support Wabtec’s continued growth, and we are confident they will thrive for the next 100 years in Virginia.”

Wabtec’s Salem facility employs more than 200 people in Salem and manufactures air dryers, valves, gages/flowmeters and braking equipment for the rail freight, rail transit, truck and bus industries.

“As a leading global provider of transportation solutions, we are proud of our long history of manufacturing excellence in Salem and delighted to be expanding our operations there,” said Mike Fetsko, president of Wabtec’s freight and industrial components business, in a statement. “Wabtec’s collaborative relationship with the Commonwealth of Virginia, and the business-friendly approach from state and local agencies, provided us with the confidence to make this significant investment. With new products and additional high-quality manufacturing jobs, our expansion in Salem represents our continued commitment to the community and its key role in supporting Wabtec’s future growth.”

The Virginia Economic Development Partnership worked with Salem and the Roanoke Regional Partnership to secure the project for Virginia and will support job creation through the Virginia Jobs Investment Program (VJIP), which provides consulting services and funding to companies creating jobs to support employee recruitment and training activities. Salem, the Roanoke Regional Partnership, the Greater Roanoke Workforce Development Board and Center for Manufacturing Excellence in Southwest Virginia will provide custom programs to support the company’s expansion, including talent recruitment, marketing assistance and workforce training.

Air compressor maker plans $7.4M Norfolk expansion

Norfolk-based Bauer Compressors Inc., a subsidiary of Munich-based Bauer Kompressoren Group, will invest $7.4 million to expand its production capacity in Norfolk, creating an estimated 47 jobs, Gov. Glenn Youngkin announced Wednesday.

The company will increase its capacity to produce hydrogen and natural gas compressors.

“Bauer’s long-term success in the city of Norfolk reinforces the commonwealth’s strong foundation for job growth and the company’s continued confidence in our pro-business climate, infrastructure and workforce,” Youngkin said in a statement. “The expansion of global industry leaders like Bauer strengthens the local and regional economies and Virginia’s advanced manufacturing sector.”

Bauer Compressors specializes in high-pressure breathing air; General Services Administration/military breathing air; industrial air and gas; plastics technology; natural gas; and inert gas compression. Bauer is a 2010 graduate of the Virginia Leaders in Export Trade Program, which assists Virginia exporters that have established domestic operations and want to pursue international exporting to grow.

“Bauer is excited to be able to continue our long-standing partnership with the city of Norfolk and the commonwealth of Virginia,” Bauer Compressors President Tony Bayat said in a statement. “The favorable business climate, easy access to the port and room to grow make Norfolk an ideal location for us.”

The Virginia Economic Development Partnership worked with Norfolk and the Hampton Roads Alliance to secure the project, for which Virginia competed with Ohio and South Carolina. Youngkin approved a $50,000 grant from the Commonwealth’s Opportunity Fund to assist Norfolk with the project. Bauer is eligible to receive benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. VEDP will support Bauer through the three-year Virginia Jobs Investment Program (VJIP), which provides cash grant reimbursements for associated human resources costs after a company has had new employees on the payroll for at least 90 days.

Agtech startup to invest $25M in Albemarle expansion

Agricultural biotech startup AgroSpheres will invest $25 million to expand in Albemarle County, creating an estimated 50 jobs, Gov. Glenn Youngkin announced Thursday.

The company will increase production at its facility at 1180 Seminole Trail and build a research and development and demonstration facility for new products, which will be a pilot plant for a potential larger manufacturing operation.

“Thanks to innovative companies like AgroSpheres, Virginia is quickly becoming a hub for cutting-edge developments in agriculture technology,” Youngkin said in a statement. “As the commonwealth’s largest private sector industry, agriculture is engrained in the foundation of our economy. We are proud that Virginia-educated entrepreneurs took a leap that is paying off.”

Founded in the Charlottesville area, AgroSpheres has two patented technologies, AgriCell and AgriShell, that aid the development of biological pesticides with multiyear shelf lives. AgriCell is a biodegradable delivery technology. It makes manufacturing and delivering biomolecules, small molecules and semiochemicals in the field at a reduced dose cost-effective, according to a news release.

“We are blessed to have started AgroSpheres in one of the best states to do business. There is no better place to build our company than right here in Charlottesville,” AgroSpheres founder and CEO Payam Pourtaheri said in a statement. “The Commonwealth of Virginia is a strong supporter of biotech, from providing investments to establishing a major biotech institute in Charlottesville, to grant administration by the Virginia Catalyst and the Commonwealth Commercialization Fund to supporting R&D.”

In 2019, the Virginia Innovation Partnership Corp. provided a $600,000 grant to AgroSpheres through its Commonwealth Research Commercialization Fund.

The Virginia Economic Development Partnership worked with Albemarle County to secure the project for Virginia. Youngkin approved a $200,000 grant from the Commonwealth’s Opportunity Fund to assist the county. VEDP will support AgroSpheres through the three-year Virginia Jobs Investment Program, which provides cash grant reimbursements for associated human resources costs after a company has had new employees on the payroll for at least 90 days.

Lynchburg transformer manufacturer to add 149 jobs

Industrial power equipment manufacturer Delta Star Inc. will invest $30.2 million to expand its manufacturing operation and headquarters in Lynchburg, creating an estimated 149 jobs, Gov. Glenn Youngkin announced Wednesday.

The company will add 80,000 square feet of mobile power transformer manufacturing space to its 300,000-square-foot facility located at 3550 Mayflower Drive and will consolidate its headquarters and office functions in an adjacent 14,000-square-foot corporate building.

“Delta Star has been a valuable and reliable employer in the City of Lynchburg for more than 60 years,” Youngkin said in a statement. “Manufacturing is a major economic driver across the commonwealth, and we are proud that this industry leader’s products are not only ‘Made in America’, they are also ‘Made in Virginia.’”

Founded in 1908, Delta Star established its Lynchburg facility in 1962 and later moved its corporate headquarters to the plant. The manufacturer has more than 915 employees, of whom approximately 460 work in the Lynchburg facility. Virginia competed with California and Pennsylvania for the project.

“The Commonwealth of Virginia offers a unique set of advantages such as transportation access, business-friendly attitude at both state and local levels, [and] exceptionally well-executed and supported workforce development and recruitment programs,” Delta Star CEO Jason Greene said in a statement. “Lastly, the significant economic development and growth of the Lynchburg region through numerous programs, projects and investments have made a lasting impact.”

The Virginia Economic Development Partnership worked with Lynchburg and the Lynchburg Regional Business Alliance to secure the project. Youngkin approved an $850,000 grant from the Commonwealth’s Opportunity Fund to assist Lynchburg with the project. Delta Star is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Delta Star will also use the Virginia Talent Accelerator Program, a discretionary incentive program offered by VEDP and the Virginia Community College System that provides free customizable workforce recruiting and training services for eligible businesses locating or expanding in Virginia.